Summary: Minnesota Housing Finance Agency; General Obligation; Multifamily Whole Loan

S&P Global Ratings assigned its 'AAA' rating to Minnesota Housing Finance Agency's (MHFA) $7.8 million series 2021C rental housing bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the agency's existing debt. The outlook is stable. The rating reflects our analysis of the twin revenue streams securing the bonds--MHFA's rental resolution assets and the agency's general obligation (GO) pledge--according to our criteria "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011. Specifically, debt under the resolution benefits from assets exceeding such debt by almost 4x. The rating reflects our opinion of: The rental bond resolution's significant overcollateralization in terms of assets to liabilities; Very strong performance of the rental housing mortgage

...S&P Global Ratings assigned its '###' rating to Minnesota Housing Finance Agency's (MHFA) $7.8 million series 2021C rental housing bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the agency's existing debt. The outlook is stable. The rating reflects our analysis of the twin revenue streams securing the bonds--MHFA's rental resolution assets and the agency's general obligation (GO) pledge--according to our criteria "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011. Specifically, debt under the resolution benefits from assets exceeding such debt by almost 4x....

Summary