Standard&Poor's Ratings Services assigned its 'AA+' rating to Minnesota Housing Finance Agency's residential housing finance bonds series 2008A and 2008B, and its 'AA+/A-1+' rating to the series 2008C bonds. The long-term ratings on the bonds reflect the Standard&Poor's underlying rating (SPUR) on Minnesota Housing Finance Agency (MHFA). The short-term component of the rating on the series 2008C bonds reflects a standby bond purchase agreement (SBPA) provided by Federal Home Loan Bank of Des Moines. The long-term ratings on MHFA residential housing finance bonds 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
