Standard&Poor's Ratings Services assigned its 'AA+' rating to the Minnesota Housing Finance Agency's (MHFA) $175 million residential housing finance bonds series 2007L, and 2007M, and issued its 'SP-1+' rating to the agency's $98.44 million series 2007K bonds. In addition, Standard&Poor's affirmed its 'AA+' rating on the agency's pre-existing debt. The ratings reflect: Very strong financial performance of the bond program; Credit quality of the residential housing finance loan portfolio appropriate for the 'AA' rating level; Loan loss coverage at the 'AA' rating level provided by overcollateralization and a leveraged self-insurance fund; Cash flow strength; and Investments commensurate with the 'AA' rating level. All bonds additionally benefit from MHFA's ('AA+') GO pledge and the state of Minnesota's
