S&P Global Ratings assigned its 'AA-' rating to Massachusetts Housing Finance Agency's (MassHousing) series 2016DE housing revenue bonds and affirmed its 'AA-' rating on all bonds outstanding under the issuer's main multifamily housing revenue bond resolution. The outlook is stable. The 'AA-' rating reflects our view of: The extremely strong level of government support, reflecting ongoing support in the form of low-income housing tax credits (LIHTC), FHA risk-share mortgage insurance, federal and state rental subsidies, property tax exemptions, and tax-exempt bond financing; Very strong strategy and management and financial policies and practices by MassHousing; Very strong loss coverage levels, based on the resolution's high level of over-collateralization; The resolution's solid financial strength, reflecting the pool's weighted average debt service coverage
