Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating to Minnesota Housing Finance Agency's (MHFA) limited obligation draw down series 2007. The rating reflects the investment of the proceeds in an investment agreement provided by AIG Matched Funding Corp. (with a guarantee from American International Group Inc.). The draw-down bonds are being issued to refund prior bonds issued by MHFA. At closing, an initial draw in the amount of $25 million will be made to refund prior bonds. The prior bond trustee will simultaneously give the trustee a like amount for deposit into the bond escrow account. Additional draw down bonds may be issued, up to $500 million in total, with the simultaneous transfers to occur with each issue so
