...March 9, 2021 NEW YORK (S&P Global Ratings) March 9, 2021--S&P Global Ratings assigned its '##+' long-term rating to the North Carolina Housing Finance Agency's (NCHFA) series 46 home ownership revenue bonds (the 1998 trust agreement). At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) on NCHFA's home ownership revenue parity debt (the 1998 trust agreement) resolution. The outlook is stable. "The rating reflects our opinion of NCHFA's Fannie Mae (FNMA), Freddie Mac (FHLMC), and Ginnie Mae (GNMA) MBS portfolios; consolidated indenture cash flows that demonstrate sufficient assets and revenues to absorb projected losses at the '##+' level; and very strong credit quality of its remaining single-family whole-loan portfolio," said S&P Global Ratings credit analyst Ki-Beom Park. NCHFA will use the series 46 bond proceeds to purchase mortgage-backed securities (MBS), make downpayment assistance loans to low- and moderate-income households in North...
