S&P Global Ratings' long-term rating on the National Finance Authority, N.H.'s series 2022-2 class A and X certificates is 'BBB'. The outlook is stable. The class A certificates were issued with a 4% fixed rate and a par amount of approximately $312.5 million as of June 20, 2024. Class A certificate holders are entitled to distributions of note principal and accrued interest. The class X certificate holders will receive interest distributions equal only 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 the class X certificates will not have
