S&P Global Ratings assigned its 'AA+/A-1+' dual rating to the North Carolina Housing Finance Agency's (NCHFA) approximately $40 million home ownership revenue bonds (HORBs), series 52-C (non-alternative minimum tax; social bonds). The outlook, where applicable, is stable. Bonds issued within the HORB 1998 resolution are payable from the revenues, assets, and money pledged under the master indenture on a parity basis with all other obligations outstanding under the master indenture. NCHFA plans to use the bond proceeds to purchase mortgage-backed securities and make down-payment assistance loans to low- and moderate-income households in North Carolina. The series 52-C bonds will be issued as variable-rate demand obligations and will receive enhancement in the form of a standby-bond purchase agreement (SBPA) from TD
