SAN FRANCISCO (S&P Global Ratings) March 16, 2022--S&P Global Ratings assigned its 'AA+' long-term rating to the North Carolina Housing Finance Agency's (NCHFA) series 48 home ownership revenue bonds (the 1998 trust agreement) (social bonds). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating on NCHFA's home ownership revenue bond (the 1998 trust agreement) resolution parity debt. The outlook is stable. "The 'AA+' long-term rating reflects our opinion of NCHFA's very strong enhancement, based on the guarantees by Fannie Mae, Freddie Mac, and Ginnie Mae on mortgage-backed securities, representing approximately 83% of program obligations outstanding," said S&P Global Ratings credit analyst Aulii Limtiaco. The rating further reflects our view of NCHFA's: Consolidated indenture cash flows that demonstrate
