...S&P Global Ratings assigned its '##+ (sf)' long-term rating to Freddie Mac's Class A multifamily M certificates series M-069 (social bonds). The outlook is stable. The series M-069 certificates have a credit enhancement in the form of a Freddie Mac guarantee. On the closing date, Freddie Mac creates the series pool related to the certificates and transfers the mortgage loans (deposited assets) into the pool for the benefit of certificateholders. The Freddie Mac guarantee provides that if there are insufficient funds to pay principal or interest on the Class A certificates, Freddie Mac will pay any principal or interest payments due on each distribution date. Freddie Mac's standby credit enhancement will terminate upon series expiration, which is the date class A certificateholders receive final payment. Credit enhancement, however, will remain in effect with Freddie Mac making payments of any recaptured amount due to certificateholders because of bankruptcy on the part of a note obligor...
