S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac's series 2023-ML15 class A multifamily ML structured pass-through certificates (SPCs)(sustainability bonds), with a planned par amount of $367.202 million. The outlook is stable. The series ML-15 Class A SPCs are secured by underlying class A-G and A-D certificates, which are fully guaranteed as to timely and sufficient payment by Freddie Mac. The Freddie Mac guarantee provides that if there are insufficient funds to make principal or interest payments on the underlying certificates, Freddie Mac will make any principal or interest payments due on each distribution date. The underlying certificates are secured by 20 tax-exempt loans (TELs), the proceeds of which were used to finance 20 multifamily affordable-housing properties, which are
