S&P Global Ratings assigned its 'AA+' rating to the Minnesota Housing Finance Agency (MHFA)'s state appropriation bonds (housing infrastructure), series 2023A (approximately $22.28 million) and series 2023B ($3.51 million), which are supported by continuing appropriations from the State of Minnesota. The outlook is stable. The series 2023 housing infrastructure bonds are secured by a continuing appropriation from the state's general fund that does not require any further action by the legislature but could be subject to repeal or executive unallotment. The bonds are authorized by Section 462A.37 of the Minnesota Statutes, which has been amended eight times over the last several years to increase the amount of bonds authorized. The act requires MHFA to annually certify to the commissioner of
