S&P Global Ratings assigned its 'AAA' long-term rating to the Georgia Housing and Finance Authority 's (GHFA) 2025 series C (non-AMT) and series D (federally taxable) single-family mortgage bonds (SFMBs), with a combined par amount of $251.895 million. At the same time, we affirmed our 'AAA' long-term rating on the authority's SFMBs outstanding. The outlook is stable. Revenue from and all amounts held in any fund (excluding those related to GHFA's rebate obligation), including investments, held pursuant to the authorizing resolutions secure bonds issued within the SFMB program. The bonds are also general obligations of the authority, payable out of any of the authority's revenue, money, or assets legally available. According to preliminary transaction documents, approximately $251.895 million of 2025
