Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Minnesota Housing Finance Agency's (MHFA) series 2014A residential housing finance bonds (non-Alternate Minimum Tax). At the same time, Standard&Poor's affirmed its 'AA+' issuer credit rating on MHFA. Finally, Standard&Poor's affirmed its 'AA+/A-1+' and 'AA+' ratings on all other outstanding issues under the resolution. The outlook on all issues is stable. The ratings reflect our view of the agency's general credit strengths, which include: A very strong overall financial capacity, demonstrated by very strong liquidity, leverage, and capital adequacy ratios; A portfolio of very strong assets comprised of whole loans and a growing portfolio of mortgage-backed securities (MBS); A very strong executive management team that is
