...S&P Global Ratings affirmed its '###' rating on the National Finance Authority (NFA), N.H.'s series 2020-1 class A multifamily mortgage loan pass-through certificates. The outlook is stable. The class A certificates were issued with a 4.125% fixed rate and had a par amount of approximately $450.9 million as of Sept. 21, 2020. Class A certificate holders are entitled to distributions of note principal and accrued interest. An unrated class B certificate of a par amount of approximately $26.5 million was issued. The proceeds of the class A certificates and unrated class B certificates purchased 39 first-lien mortgage loans on 43 affordable multifamily rental housing properties (the mortgage collateral) from Citibank N.A., the seller and originator, to be deposited with the U.S. Bank, the trustee, in accordance with the trust agreement. The trustee holds the loans on behalf of NFA for the benefit of purchasers of the certificates and make distributions on the certificates for NFA. Due to the...
