Standard&Poor's Ratings Services affirmed its 'AA+' rating on Minnesota Housing Finance Agency's (MHFA) issuer credit rating (ICR) and the ratings on its related debt. The ratings reflect the financial strength of the agency and its solid overall operations. General credit strengths include: Very strong financial performance, marked by strong capital adequacy ratios; Strong overall asset quality with prudent oversight; Extremely capable and proactive management; Ongoing state support for the agency's operations and mission; and The state's generally strong economic position. These strengths mitigate the moderately high risk of the agency's asset base comprised mostly of single-family and multifamily whole loans. Despite current economic pressures from the credit crisis and increased foreclosures and delinquency rates, the agency's loan portfolio
