Summary: Minnesota Housing Finance Agency; Single Family Multiple MBS

S&P Global Ratings raised the short-term component of its rating on Minnesota Housing Finance Agency's series 2019H residential-housing finance bonds to 'AA+/A-1+' from 'AA+/A-1'. The outlook is stable. The short-term component of the rating reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by U.S. Bank N.A. with a new SBPA provided by TD Bank N.A., effective July 11, 2024. The long-term component of the rating reflects our opinion of the residential-housing-finance-bonds program's credit characteristics. The short-term component of the rating reflects our opinion of the liquidity facility in the form of an SBPA from TD Bank N.A., effective July 11, 2024. The SBPA covers principal and 187 days' interest at a maximum 12% annual rate for

...S&P Global Ratings raised the short-term component of its rating on Minnesota Housing Finance Agency's series 2019H residential-housing finance bonds to '##+/A-1+' from '##+/A-1'. The outlook is stable. The short-term component of the rating reflects our assessment of the replacement of a standby-bond-purchase agreement (SBPA) provided by U.S. Bank N.A. with a new SBPA provided by TD Bank N.A., effective July 11, 2024. The long-term component of the rating reflects our opinion of the residential-housing-finance-bonds program's credit characteristics. The short-term component of the rating reflects our opinion of the liquidity facility in the form of an SBPA from TD Bank N.A., effective July 11, 2024. The SBPA covers principal and 187 days' interest at a maximum 12% annual rate for the purchase price of bonds not successfully remarketed. Both the U.S. Bank N.A. SBPA and the new SBPA provided by TD Bank N.A. cover bonds only in the weekly interest-rate mode (the rated mode). During the rated...

Summary