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) $10.495 million 2022 series C rental housing bonds (the 2022C bonds). At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the agency's existing debt in the rental housing bond resolution. The rating reflects our analysis of the multiple 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, on RatingsDirect. Specifically, debt under the resolution benefits from assets exceeding such debt by well over 3x, leading to the rating reflecting the stronger of the two revenue pledges. The outlook is stable. The

...+ S&P Global Ratings assigned its '###' rating to Minnesota Housing Finance Agency's (MHFA) $10.495 million 2022 series C rental housing bonds (the 2022C bonds). + At the same time, S&P Global Ratings affirmed its '###' long-term rating on the agency's existing debt in the rental housing bond resolution. + The rating reflects our analysis of the multiple 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, on RatingsDirect. Specifically, debt under the resolution benefits from assets exceeding such debt by well over 3x, leading to the rating reflecting the stronger of the two revenue pledges. + The outlook is stable....

Summary