S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac's $224.51 million multifamily ML structured pass-through certificates (SPCs), series 2023-ML-17 class A (sustainability bonds). The outlook is stable. The series ML-17 certificates have a credit enhancement in the form of a Freddie Mac guarantee. The certificates represent ownership of 14 underlying tax-exempt loans (TELs), the proceeds of which financed 14 multifamily affordable-housing properties, coupled with the benefits of a Freddie Mac guarantee. The Freddie Mac guarantee provides that if there are insufficient funds to make principal or interest payments on the class A certificates, Freddie Mac will make any principal-and-interest payments due on the certificates on each distribution date. Freddie Mac will issue the class A certificates at a fixed
