National Finance Authority, NH 2020-1 Class A Bond Rating Raised To ?BBB+? (sf) On Improving Loan Performance

NEW YORK (S&P Global Ratings) Feb. 6, 2025--S&P Global Ratings raised its long-term rating on National Finance Authority, N.H.'s series 2020-1 class A bonds to 'BBB+' (sf) from 'BBB' (sf). The outlook is stable. "The upgrade reflects the improving asset-to-liability parity ratio and loan performance, resulting in an improved coverage and liquidity assessment for the transaction," said S&P Global Ratings credit analyst Musharrof Ahmed. The class A certificates were issued in January 2020, with a 4.125% fixed rate and an initial par amount of approximately $454.8 million. As of Dec. 20, 2024, the par amount outstanding was approximately $420.3 million. Class A certificate holders are entitled to distributions of note principal and accrued interest monthly, according to the transaction's documents.

...February 6, 2025 NEW YORK (S&P Global Ratings) Feb. 6, 2025--S&P Global Ratings raised its long-term rating on National Finance Authority, N.H.'s series 2020-1 class A bonds to '###+' (sf) from '###' (sf). The outlook is stable. "The upgrade reflects the improving asset-to-liability parity ratio and loan performance, resulting in an improved coverage and liquidity assessment for the transaction," said S&P Global Ratings credit analyst Musharrof Ahmed. The class A certificates were issued in January 2020, with a 4.125% fixed rate and an initial par amount of approximately $454.8 million. As of Dec. 20, 2024, the par amount outstanding was approximately $420.3 million. Class A certificate holders are entitled to distributions of note principal and accrued interest monthly, according to the transaction's documents. The transaction also includes subordinate class B certificates, which were equivalent to 5.9% of the total loans outstanding as of Dec. 20, 2024. Because of the unrated class B...

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