S&P Global Ratings assigned its 'AA+' rating to Nevada Housing Division 's (NHD) $70 million series 2025E and approximately $48.7 million series 2025F single-family mortgage revenue bonds, issued under the 2008 general indenture. At the same time, S&P Global Ratings affirmed its 'AA+' rating on NHD's general indenture bonds outstanding. The outlook is stable. ENGLEWOOD (S&P Global Ratings) Nov. 4, 2025--S&P Global Ratings today took the rating actions listed above. We have analyzed the general indenture's environmental, social, and governance factors relative to the legal framework, program management and operational risk, asset pool's credit quality, cash flow analysis, liquidity, and market position. In our opinion, the program exhibits social opportunities related to social capital based on the mission to improve