S&P Global Ratings affirmed its 'AA/A-1' rating on the Massachusetts Development Finance Agency 's series 2007A-1 bonds, issued for the Museum of Fine Arts Boston (MFA). The outlook is stable. The long-term component of the rating on the series 2007A-1 bonds is based on the general creditworthiness of the MFA, and the short-term component is based on the rating of the liquidity provider, Bank of America, N.A. As of June 30, 2024, total debt outstanding was $124.5 million, including $100.0 million of 2007A-1 bonds outstanding, $19.4 million drawn on a line of credit, and $5.1 million in leases. The rating reflects MFA's comprehensive collection, excellent reputation, solid balance sheet metrics, and history of strong fundraising. In addition, demand for the
