Research Update: Massachusetts Housing Finance Agency Single-Family Housing Revenue Bonds Series 245-247 Rated 'AA+'; Outlook Is Stable

S&P Global Ratings assigned its 'AA+' rating to Massachusetts Housing Finance Agency 's (MassHousing) approximately $143.5 million series 245, 246, and 247 single-family housing revenue bonds (SFHRBs) within the agency's SFHRB program. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and 'AA+/A-1' and ?AA+/A-1+? dual ratings on MassHousing?s previously issued debt within the agency?s SFHRB program. The outlook is stable. Bonds issued within the SFHRB program are special obligations of MassHousing, secured solely by certain revenue and funds established under this program for security and payment. These bonds are on parity with all other obligations under this program. The dual ratings reflect the long-term rating on previously issued debt and our view of liquidity support for

...Legal framework No cap Program management and operational risk No cap Factors constraining the anchor 0 Cash flow analysis Overcollateralization ### Stressed cash flows ##+ Hedging risk No cap HFA general obligation pledge N/A Anchor Anchor ##+ Modifiers and holistic analysis Liquidity reserves No modifier Market position No modifier Holistic analysis No modifier Stand-alone credit profile (SACP) SACP ##+ Other applicable criteria No cap Final Final rating ##+ HFA--Housing finance agency. N/A--Not applicable....

Research Update