Summary: Massachusetts Housing Finance Agency; Single Family Whole Loan

S&P Global Ratings raised the short-term rating component of its rating on Massachusetts Housing Finance Agency's (MassHousing) series 196, 200, and 204 single-family housing revenue bonds to 'AA+/A-1+' from 'AA+/A-1'. The short-term component of the series 196, 200, and 204 rating reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by UBS AG, acting through its Stamford Branch, with a new SBPA provided by T.D Bank N.A., effective May 8, 2024. The long-term component of the rating continues to reflect MassHousing's single-family housing revenue bond resolution. The short-term component of the rating reflects our assessment of the new SBPA. The SBPA covers principal and 34 days' interest at a maximum 10% annual rate for the purchase price

...S&P Global Ratings raised the short-term rating component of its rating on Massachusetts Housing Finance Agency's (MassHousing) series 196, 200, and 204 single-family housing revenue bonds to '##+/A-1+' from '##+/A-1'. The short-term component of the series 196, 200, and 204 rating reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by UBS AG, acting through its Stamford Branch, with a new SBPA provided by T.D Bank N.A., effective May 8, 2024. The long-term component of the rating continues to reflect MassHousing's single-family housing revenue bond resolution. The short-term component of the rating reflects our assessment of the new SBPA. The SBPA covers principal and 34 days' interest at a maximum 10% annual rate for the purchase price of bonds not successfully remarketed. The T.D. Bank N.A SBPA covers bonds in the daily and weekly interest-rate mode (the rated modes). During the rated modes, we think SBPA coverage is sufficient to pay bond...

Summary