S&P Global Ratings assigned its 'AA+/A-1+' rating to Massachusetts Housing Finance Agency's (MassHousing) roughly $75.6 million series 2023E housing bonds. The outlook is stable. Bonds issued within the housing-bond resolution are special-revenue obligations of MassHousing, secured solely by a pledge of certain revenue and funds established under the 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 commonwealth subsidy or insurance and are well seasoned. MassHousing expects to use series 2023E bond proceeds to refinance series 2008A housing bonds, which it used to finance certain multifamily residential developments, pay capitalized interest and issuance costs,
