S&P Global Ratings assigned its 'AA+' long-term rating to the Nevada Housing Division 's $13.50 million series 2026 multi-unit housing revenue bonds, issued for Nevada Portfolio LLC apartments project. The outlook is stable. Revenue, held as part of the trust estate under the indenture and invested in U.S. government obligations and 'AAAm' rated money market mutual funds, secures the series 2026 bonds. These investments are assumed to bear timely, sufficient payments, to be transferred into the bond fund, to make interest and principal payments. The rating reflects our opinion of the project's: Sufficient collateral and interest earnings to make principal and interest payments on all bonds through mandatory tender on June, 1, 2028; Very high-quality investments, including U.S. government obligations
