Summary: Massachusetts Housing Finance Agency; Single Family Whole Loan

S&P Global Ratings affirmed its 'AA+/A-1+' rating on Massachusetts Housing Finance Agency's (MassHousing) series 208 single-family housing revenue bonds. The short-term component reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by Royal Bank of Canada 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 187 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).

...S&P Global Ratings affirmed its '##+/A-1+' rating on Massachusetts Housing Finance Agency's (MassHousing) series 208 single-family housing revenue bonds. The short-term component reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by Royal Bank of Canada 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 187 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 principal and maximum accrued interest. The new SBPA schedule expires May 8, 2029, at which time we will remove the short-term...

Summary