S&P Global Ratings assigned its 'AA-' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) 2017 series B (non-AMT) and 2017 series C (federally taxable) construction loan notes. At the same time, S&P Global Ratings affirmed its ratings on all of the agency's construction loan notes outstanding. The outlook is stable. The rating on the series 2017 notes reflects our 'AA-' issuer credit rating (ICR) on the agency's general obligation pledge to the notes. The notes constitute general obligations, and are secured by the full faith and credit of MassHousing. The 'AA-' ICR reflects our opinion of the following: The agency's strong asset base, including single-family loans, multifamily mortgages, and investments; The agency's stable equity levels and solid financial performance
