The ratings on Minnesota Housing Finance Agency's (MHFA) bonds reflect: Very strong financial performance and credit quality of the mortgage loans backing the bonds; Sufficient loan loss coverage provided by overcollateralization and a leveraged self-insurance fund; Cash flow strength; and MHFA's status as Top-Tier. The dual ratings on the agency's short-term bonds reflect sufficiency of the invested bond principal to pay scheduled debt service and purchase price for mandatory tenders. The parity resolution continues strengthening, with an asset-to-liability parity ratio more than 105%, or nearly $80 million in assets over liabilities. Updated consolidated cash flow projections indicate adequate collateral to pay full and timely debt service, plus fees, through final bond maturity. Resolution non-performing assets (NPAs) of 1.88% of loans
