Standard&Poor's Ratings Services affirmed its 'AA+' standard long-term rating and underlying rating (SPUR) on Minnesota Housing Finance Agency's (MHFA) rental housing bonds, reflecting: The agency's general obligation (GO) pledge (AA+/Positive) 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; A supplemental resolution amending the bond resolution that permits the agency to issue variable rate debt under the program and enter into associated hedge agreements; Very strong performance of the rental housing mortgage loan portfolio, evidenced by extremely good delinquency statistics, and the strong oversight provided by the agency; and Cash flows able to demonstrate the ability of revenues to
