S&P Global Ratings assigned its 'AA+(sf)' rating to Freddie Mac, Va.'s series M-037 and M-038 class A multifamily certificates. The rating reflects the credit enhancement, in the form of a guarantee, provided for the certificates by Freddie Mac. The rating also reflects the likelihood class A certificateholders will receive timely interest and principal payments when due. Our rating does not reflect our opinion of the likelihood certificateholders will receive full and timely payment of premiums or hypothetical gain-share payments. On the closing date, Freddie Mac will create the series pool related to the certificates and transfer the multifamily housing bonds into the series pool for the benefit of certificateholders. Freddie Mac guarantees timely interest and principal payments due to class
