Summary: Massachusetts Hsg Fin Agy; Housing, Other

The ratings on Massachusetts Housing Finance Agency's (MassHousing) housing bond resolution reflect the following strengths: The quality and performance of the mortgage collateral supporting the bonds; Sufficient credit reserves to withstand assumed losses at the 'AA-' rating level; Significant levels of loan reserves eligible for project debt service should ongoing project cash flow be insufficient; Cash flow projections showing the ability of pledged revenues to pay bond debt service plus fees under a variety of stress scenarios; A debt service reserve fund (DSRF) sized at one-half of maximum debt service due during any calendar year (except for the series G bonds); Investments and hedging agreements with providers commensurate with the rating on the bonds; and Standby bond purchase agreements for

Summary