S&P Global Ratings assigned its 'AA+' rating to Minnesota Housing Finance Agency's (MHFA) series 2017 A and B residential housing finance bonds. At the same time, we affirmed our 'AA+' issuer credit rating (ICR) on MHFA, and our 'AA+' and 'AA+/A-1+' ratings on MHFA's related debt. The outlook on all ratings is stable. The rating reflects our view of the following credit strengths: The agency's general obligation (GO) pledge which secures the bonds (its creditworthiness is supported by extremely sound financial operations, high overall asset quality, strong and stable management, and very strong support and economic performance); Very strong residential housing assets that comprise whole loans and a growing portfolio of mortgage-backed securities (MBS); The very strong performance of the
