Summary: Massachusetts Housing Finance Agency; Multifamily Whole Loan

S&P Global Ratings assigned its 'AA' rating and positive outlook to Massachusetts Housing Finance Agency's (MassHousing) approximately $149 million series 2021B and 2021C housing bonds, issued under its housing-bond resolution. MassHousing plans to use series 2021B bond proceeds to provide construction and permanent financing for certain multifamily residential developments and series 2021C bond proceeds to refund series 2017B construction loan notes. The bonds are fixed-rate bonds, subject to redemption prior to maturity as outlined in the official statement. The series 2021B and 2021C bonds are special-revenue obligations of MassHousing, secured solely by a lien on money and investments held in all funds and accounts established by the housing-bond resolution, which is MassHousing's main issuing indenture for its multifamily program. A

...S&P Global Ratings assigned its '##' rating and positive outlook to Massachusetts Housing Finance Agency's (MassHousing) approximately $149 million series 2021B and 2021C housing bonds, issued under its housing-bond resolution. MassHousing plans to use series 2021B bond proceeds to provide construction and permanent financing for certain multifamily residential developments and series 2021C bond proceeds to refund series 2017B construction loan notes. The bonds are fixed-rate bonds, subject to redemption prior to maturity as outlined in the official statement. The series 2021B and 2021C bonds are special-revenue obligations of MassHousing, secured solely by a lien on money and investments held in all funds and accounts established by the housing-bond resolution, which is MassHousing's main issuing indenture for its multifamily program. A lien on all income from mortgage loans also secures the bonds. The majority of portfolio loans benefit from some form of federal or state subsidy or insurance....

Summary