Summary: Massachusetts Housing Finance Agency; Joint Criteria; Multifamily Whole Loan

S&P Global Ratings assigned its 'AA' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) 2019 series C-1, C-2 (collectively, the 2019 series C bonds), and D housing bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR), as well as various dual ratings on MassHousing's housing bonds outstanding. The outlook, where applicable, is stable. The ratings reflect our view of MassHousing's: Very strong enterprise risk profile supported by low industry risk, extremely strong government support reflecting ongoing support in the form of federal and state programs, and very strong strategy and management of the program evidenced by MassHousing's experience and proactive approach in the sector and its portfolio performance; Extremely strong financial

...S&P Global Ratings assigned its '##' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) 2019 series C-1, C-2 (collectively, the 2019 series C bonds), and D housing bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR), as well as various dual ratings on MassHousing's housing bonds outstanding. The outlook, where applicable, is stable. The ratings reflect our view of MassHousing's: + Very strong enterprise risk profile supported by low industry risk, extremely strong government support reflecting ongoing support in the form of federal and state programs, and very strong strategy and management of the program evidenced by MassHousing's experience and proactive approach in the sector and its portfolio performance; + Extremely strong financial risk profile demonstrated by the exceptional financial strength in MassHousing's housing bond resolution with average debt service coverage of 2.1x, extremely strong loss...

Summary