S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac's series 2022-ML13 Class A-CA and A-US multifamily ML structured pass-through certificates (sustainability bonds). The outlook is stable. The series ML-13 certificates have a credit enhancement in the form of a Freddie Mac guarantee. The certificates each represent ownership of 47 underlying tax-exempt loans (TELs), the proceeds of which were used to finance 48 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-CA or -A-US certificates, Freddie Mac will pay any principal or interest payments due on the certificates on each distribution date. The class A-CA and A-US
