S&P Global Ratings assigned its 'AA+' rating to the Minnesota Housing Finance Agency's (MHFA) series 2016C rental-housing bonds and affirmed its 'AA+' ratings on MHFA's related debt. The outlook on all the ratings is stable. The 'AA+' rating reflects our opinion of the general obligation (GO) pledge of MHFA, for which we maintain an issuer credit rating (ICR) on the agency. The rating reflects our opinion of MHFA's: Strong loan portfolio, reflecting high asset quality and a very strong equity position; Strong profitability, leverage, and capital adequacy ratios; Strong executive management team dedicated to proactive and strategic planning; and Record of very strong state support for the agency's operations and mission. MHFA intends to use series 2016C bond proceeds to
