The rating on Minnesota Housing Finance Agency's bonds reflects: * The agency's GO pledge as the strongest credit support backing the bonds; * Strong performance of the rental housing portfolio evidenced by extremely good delinquency statistics, and the very strong oversight provided by the agency; and * Consolidated cash flows demonstrating the ability of the resolution to withstand a stress loss scenario on the loans from excess assets. Bond proceeds will finance additional property in the agency's rental housing portfolio, Bossen Park Apartments. The loan will be insured by FHA under a risk share agreement with the agency. The agency's creditworthiness is supported by high asset quality, solid financial performance, strong management, and a broad and diverse Minnesota economy. Longer
