Standard&Poor's Ratings Services raised its rating to 'AA+/A-1+' from 'AA+/A-1' on Minnesota Housing Finance Agency's (MHFA) residential housing finance bonds series 2005M, due to the substitution of the existing standby bond purchase agreement (SBPA) provided by Lloyds TSB Bank plc (A/A-1) with a SBPA provided by Wells Fargo Bank National Association (AA-/A-1+). The 'AA+' long-term component of the rating on the bonds is based the unenhanced rating of the resolution. The SBPA provides coverage for the aggregate principal and interest in an amount equal to 189 days at a maximum rate of 12%. The agreement covers the daily, weekly, monthly, quarterly, and semiannual modes. The bonds currently bear interest in the weekly mode and shall be subject to
