...June 8, 2022 NEW YORK (S&P Global Ratings) June 8, 2022--S&P Global Ratings assigned its '##+' rating to Minnesota Housing Finance Agency's (MHFA) series 2022G residential housing finance bonds ($100 million, fixed-rate) and its '##+/A-1+' rating to the agency's series 2022H bonds ($50 million, variable-rate). At the same time, S&P Global Ratings affirmed its '##+' and '##+/A-1+' ratings on MHFA's related debt outstanding. The outlook is stable. "The ratings reflect our view of the agency's very strong portfolio credit quality, with mortgage-backed securities (MBS) representing about 89% of mortgage assets," said S&P Global Ratings credit analyst Adam Torres. The ratings further reflect our view of MHFA's: - Cash flows demonstrating the program's ability to pay bondholders in a variety of stress scenarios, with asset-to-liability parity of more than 106% after accounting for our estimated losses associated with the remaining whole loan assets; - The agency's additional GO pledge that secures...
