Summary: Minnesota Housing Finance Agency; General Obligation; Single Family Multiple MBS

S&P Global Ratings assigned its 'AA+' long-term rating to the Minnesota Housing Finance Agency's (MHFA) 2022 series I and J bonds residential housing finance bonds, as well as its 'AA+/A-1+' dual rating to MHFA's 2022 series K bonds. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and 'AA+/A-1+' dual rating on MHFA's related debt outstanding. The long-term rating reflects our analysis of the multiple revenue streams securing the bonds--MHFA's residential housing finance resolution pledge 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. The pledges are of equal credit quality, in our view. The short-term component of the rating on

...+ S&P Global Ratings assigned its '##+' long-term rating to the Minnesota Housing Finance Agency's (MHFA) 2022 series I and J bonds residential housing finance bonds, as well as its '##+/A-1+' dual rating to MHFA's 2022 series K bonds. At the same time, S&P Global Ratings affirmed its '##+' long-term rating and '##+/A-1+' dual rating on MHFA's related debt outstanding. + The long-term rating reflects our analysis of the multiple revenue streams securing the bonds--MHFA's residential housing finance resolution pledge 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. The pledges are of equal credit quality, in our view. + The short-term component of the rating on the 2022 series K bonds reflects our view of credit enhancement from a liquidity facility through a standby bond purchase agreement (SBPA) provided by Federal Home Loan Bank of Des Moines...

Summary