S&P Global Ratings' long-term rating on National Finance Authority, N.H.'s series 2022-1 class A and X certificates is 'BBB (sf)'. The outlook is stable. The class A certificates were issued with a 4.375% fixed rate and have a par amount of approximately $305 million as of June 20, 2024. Class A certificateholders are entitled to distributions of note principal and accrued interest. The class X certificateholders will receive only interest distributions equal to the underlying loan weighted-average rate, less fixed expenses and the 4% class A fixed rate. The notional amount of the class X certificates will be equal to the certificate balance of the class A certificates at all times, but will not have a principal balance and will
