Standard&Poor's Ratings Services assigned its 'AA+' rating to Minnesota Housing Finance Agency's (MHFA) series 2014C, 2014D, and 2014E residential housing finance bonds. At the same time, Standard&Poor's affirmed its 'AA+' issuer credit rating (ICR) on the agency, and its 'AA+/A-1+' and 'AA+' ratings on all other outstanding issues under the agency's resolution. The outlook on all issues is stable. The ratings reflect our view of these strengths: The agency's general obligation (GO) pledge (AA+) 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
