S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac's approximately $227.45 million series 2024-ML23 class A-US sustainability bonds multifamily ML structured pass-through certificates. The outlook is stable. The series ML-23 certificates have a credit enhancement in the form of a Freddie Mac guarantee. The certificates represent ownership of eight underlying tax-exempt loans (TELs), the proceeds of which financed eight 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-US certificates, Freddie Mac will make any interest payments due on the certificates on each distribution date, principal payments on distribution dates following maturity and prepayment dates
