Nevada Housing Division, NV Series 2024C And D Single-Family Mortgage Revenue Bonds Rated ?AA+?; Outlook Is Stable

ENGLEWOOD (S&P Global Ratings) April 12, 2024--S&P Global Ratings assigned its 'AA+' rating to Nevada Housing Division's (NHD) series 2024C and series 2024D single-family mortgage revenue bonds, issued under the 2008 general indenture, with expected par amounts of $25.0 million and $102.4 million, respectively. At the same time, S&P Global Ratings affirmed its 'AA+' rating on bonds outstanding in NHD's general indenture. The outlook is stable. Bonds issued within the general indenture are limited obligations of NHD, payable solely from revenue, assets, and money pledged under the master indenture on a parity basis with all senior obligations outstanding under the indenture. For more information on the general indenture, see our analysis, published Feb. 2, 2024, on RatingsDirect. According to preliminary

...April 12, 2024 ENGLEWOOD (S&P Global Ratings) April 12, 2024--S&P Global Ratings assigned its '##+' rating to Nevada Housing Division's (NHD) series 2024C and series 2024D single-family mortgage revenue bonds, issued under the 2008 general indenture, with expected par amounts of $25.0 million and $102.4 million, respectively. At the same time, S&P Global Ratings affirmed its '##+' rating on bonds outstanding in NHD's general indenture. The outlook is stable. Bonds issued within the general indenture are limited obligations of NHD, payable solely from revenue, assets, and money pledged under the master indenture on a parity basis with all senior obligations outstanding under the indenture. For more information on the general indenture, see our analysis, published Feb. 2, 2024, on RatingsDirect. According to preliminary transaction documents, NHD will use the series 2024C and D bond proceeds to refund certain existing bonds of the division, and to purchase fully modified pass-through mortgage-backed...

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