Summary: Freddie Mac (Series ML-07 Class A-CA And A-US ); Custodial Receipts

S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac's class A-CA and class A-US series ML-07 multifamily certificates. The rating reflects our view of the credit enhancement, in the form of a Freddie Mac guarantee for the class A-CA and A-US certificates. The rating also reflects our opinion of the likelihood class A-CA and A-US certificateholders will receive full and timely interest-and-principal payments when due. However, the rating does not reflect our opinion of the likelihood certificateholders will receive full and timely payment of any prepayment premiums or yield-maintenance charges. As noted in our analysis on Freddie Mac, published April 23, 2020, on RatingsDirect, the rating on Freddie Mac's senior-unsecured debt is the same as our sovereign rating on

...On the closing date, Freddie Mac, as depositor, transfers a pool of underlying tax-exempt loans (TELs)--two TEL groups, the California TEL group and the non-California TEL group--into the FRETE 2020-ML07 Trust, a New York common-law trust for the benefit of certificateholders....

Summary