Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Minnesota Housing Finance Agency's (MHFA) series 2014A rental housing bonds. At the same time, Standard&Poor's affirmed its 'AA+' issuer credit rating (ICR) on MHFA. Finally, Standard&Poor's affirmed its 'AA+' and 'AA+/A-1+' long-term ratings on MHFA's related debt. The outlook on all issues is stable. The ratings reflect our view of these strengths: The agency's general obligation (GO) pledge backing the bonds (the agency's creditworthiness is supported by extremely sound financial operations, good overall asset quality, strong and stable management, and strong state support and economic performance); The very strong performance of the rental housing mortgage loan portfolio, evidenced by extremely good delinquency statistics and the
