S&P Global Ratings assigned its 'AA+ (sf)' rating to Freddie Mac 's anticipated $330.847 million series 2026-ML-36 class A-US, class A-USM, class A-CA, and class A-CAM multifamily ML structured pass-through certificates (SPCs) sustainability bonds. The outlook is stable. This transaction securitizes a pool of 28 underlying tax-exempt loans (TELs) the proceeds of which financed 28 multifamily affordable housing properties using low-income housing tax credits. The underlying certificates that back the series ML-36 SPCs represent ownership of the 28 underlying TELs, and the underlying certificates and SPCs have credit enhancement in the form of a Freddie Mac guarantee. The guarantee provides that in the case of insufficient funds to make principal or interest payments on the SPCs, Freddie Mac will make:
