North Carolina Housing Finance Agency Bonds Assigned 'AA+' Rating

SAN FRANCISCO (S&P Global Ratings) Nov. 3, 2022--S&P Global Ratings assigned its 'AA+' long-term rating to the North Carolina Housing Finance Agency's (NCHFA) series 49 home ownership revenue bonds (the 1998 trust agreement) (social bonds). We affirmed our 'AA+' stable long-term rating on the agency's HORB 1998 resolution. The outlook is stable. "The rating reflects the application of our 'Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs,'" said S&P Global Ratings credit analyst Ki-Beom Park. The criteria were published Oct. 10, 2022, on RatingsDirect. Bonds issued within the HORB 1998 resolution are payable from the revenues, assets, and money pledged under the master indenture on a parity basis with all other obligations outstanding under the master indenture. NCHFA

...November 3, 2022 SAN FRANCISCO (S&P Global Ratings) Nov. 3, 2022--S&P Global Ratings assigned its '##+' long-term rating to the North Carolina Housing Finance Agency's (NCHFA) series 49 home ownership revenue bonds (the 1998 trust agreement) (social bonds). We affirmed our '##+' stable long-term rating on the agency's HORB 1998 resolution. The outlook is stable. "The rating reflects the application of our 'Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs,'" said S&P Global Ratings credit analyst Ki-Beom Park. The criteria were published Oct. 10, 2022, on RatingsDirect. Bonds issued within the HORB 1998 resolution are payable from the revenues, assets, and money pledged under the master indenture on a parity basis with all other obligations outstanding under the master indenture. NCHFA plans on issuing approximately $150 million of series 49 bonds and will use the bond proceeds to purchase mortgage-backed securities (MBS) and make down-payment assistance loans to...

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