...NEW YORK (S&P Global Ratings) Nov. 30, 2017--S&P Global Ratings assigned its '##+' rating to Minnesota Housing Finance Agency's (MHFA) series 2017 D and E residential housing finance bonds, and its '##+' long-term and 'A-1+' short-term rating to the agency's series 2017F bonds. At the same time, S&P Global Ratings affirmed its '##+' issuer credit rating (ICR) on MHFA, and its '##+' and '##+/A-1+' ratings on MHFA's related debt. The outlook is stable. "The ratings reflect our view of the agency's general obligation pledge that secures the bonds, with its creditworthiness supported by a portfolio with high overall asset quality, strong and stable management, and strong state support," said S&P Global Ratings credit analyst Adam Torres. We believe other credit-positive factors include: + Very strong residential housing assets, with the mortgage-backed securities (MBS) portion of the portfolio exceeding 50%, in addition to whole loans; and + Cash flows demonstrating the ability of program revenue...
