Summary: Freddie Mac; Multifamily FHLMC

S&P Global Ratings assigned its 'AA+ (sf)' long-term rating to Freddie Mac's class A-US and class X-US multifamily ML certificates series ML-12 (sustainability bonds). The outlook is stable. The series ML-12 certificates have a credit enhancement in the form of a Freddie Mac guarantee. The certificates each represent ownership of 21 underlying tax-exempt loans (TELs) that finance 28 multifamily affordable housing properties, together with the benefits of a Freddie Mac guarantee. The Freddie Mac guarantee provides that if there are insufficient funds to pay principal or interest on the class-A-US or class-X-US certificates, Freddie Mac will pay any principal or interest payments due on each distribution date. The class A-US certificates will be issued at a fixed rate and a

...S&P Global Ratings assigned its '##+ (sf)' long-term rating to Freddie Mac's class A-US and class X-US multifamily ML certificates series ML-12 (sustainability bonds). The outlook is stable. The series ML-12 certificates have a credit enhancement in the form of a Freddie Mac guarantee. The certificates each represent ownership of 21 underlying tax-exempt loans (TELs) that finance 28 multifamily affordable housing properties, together with the benefits of a Freddie Mac guarantee. The Freddie Mac guarantee provides that if there are insufficient funds to pay principal or interest on the class-A-US or class-X-US certificates, Freddie Mac will pay any principal or interest payments due on each distribution date. The class A-US certificates will be issued at a fixed rate and a planned certificate balance of $292.7 million. Class A-US certificate holders are entitled to principal and accrued interest payments on the pool of TELs. The class X-US certificate holders will only receive interest distributions...

Summary