Nevada Housing Division; Single Family Multiple MBS

S&P Global Ratings assigned its 'A-1+' short-term rating to Nevada Housing Division's (NHD) series 2019C single-family mortgage revenue bonds, issued under NHD's single-family mortgage revenue bonds general bond certificate dated Sept. 1, 2008, (the 2008 general certificate). Also, S&P Global Ratings affirmed its 'AA+' ratings on NHD's bonds outstanding, issued under the 2008 general certificate, all of which are on parity with each other as well as with the series 2019C bonds. The outlook is stable. The ratings reflect our view of: The very strong credit quality of the underlying mortgage loan collateral, consisting of mortgage-backed securities (MBS), which benefit from full credit enhancement via a guarantee from Fannie Mae and Ginnie Mae; Very high-quality investments in revenue and residual

...S&P Global Ratings assigned its 'A-1+' short-term rating to Nevada Housing Division's (NHD) series 2019C single-family mortgage revenue bonds, issued under NHD's single-family mortgage revenue bonds general bond certificate dated Sept. 1, 2008, (the 2008 general certificate). Also, S&P Global Ratings affirmed its '##+' ratings on NHD's bonds outstanding, issued under the 2008 general certificate, all of which are on parity with each other as well as with the series 2019C bonds. The outlook is stable. The ratings reflect our view of: + The very strong credit quality of the underlying mortgage loan collateral, consisting of mortgage-backed securities (MBS), which benefit from full credit enhancement via a guarantee from Fannie Mae and Ginnie Mae; + Very high-quality investments in revenue and residual accounts; and + Consolidated cash flow demonstrating minimum asset-liability parity of approximately 109.3% and assets sufficient to pay full and timely debt service on the bonds under various...

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