S&P Global Ratings assigned its 'AA+/A-1+' rating to Minnesota Housing Finance Agency's (MHFA) series 2019D residential housing finance bonds. At the same time, S&P Global Ratings affirmed its 'AA+' issuer credit rating (ICR) on the agency, and its 'AA+' and 'AA+/A-1+' ratings on MHFA's related debt. The outlook is stable. The 'A-1+' short-term component rating on the 2019D bonds reflects the short-term rating on Royal Bank of Canada, which is providing an enhancement for the bonds in the form of a standby bond purchase agreement (SBPA). The SBPA will cover principal and interest payments for the purchase price of bonds that are not successfully remarketed during the enhanced rated mode, which is the weekly interest rate mode (the covered mode).
