Research Update: Minnesota Housing Finance Agency Series 2025F And 2025G Residential Housing Finance Bonds Rated 'AA+'; Outlook Is Stable

S&P Global Ratings assigned its 'AA+' long-term rating to the Minnesota Housing Finance Agency 's (MHFA, or the agency) approximately $88 million series 2025F (non-AMT) and approximately $52 million series 2025G (taxable) residential housing finance bonds (RHFBs). S&P Global Ratings also affirmed its 'AA+' long-term rating and 'AA+/A-1+' and 'AA+/A-1' dual ratings on the agency's previously issued RHFBs. The outlook, where applicable, is stable. Bond proceeds, program obligations, investment obligations, revenue, and other assets held under the bond resolution secure the RHFBs. The bonds are also general obligations of MHFA, payable out of any of its generally available money, assets, or revenue, subject only to the provisions of other resolutions or indentures pledging or appropriating particular money, assets, or revenue

...Legal framework No cap Program management and operational risk No cap Cash flow analysis Overcollateralization Stressed cash flows ##+ Hedging risk ##+ Housing finance agency general obligation pledge ##+ 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 ##+...

Research Update