S&P Global Ratings affirmed its 'AA+' long-term rating on Nevada Housing Division's single-family program mortgage revenue bonds. The outlook is stable The 'AA+' rating reflects our opinion of: The very strong credit quality of the underlying assets, consisting of Ginnie Mae mortgage-backed securities (MBS), which are 'AA+' eligible under our criteria; Very strong resolution cash flows, showing opening and minimum asset-to-liability parity of 103.96%; and The very high credit quality of related investments. The rating is the same as the sovereign rating on the U.S. (AA+/Stable). Should the U.S. sovereign rating be raised to 'AAA' and the bond program meet all criteria commensurate with a 'AAA' rating, the ratings on the bonds and general indenture will be raised. Latest consolidated
