S&P Global Ratings assigned its 'AA+ (sf)' long-term rating to Public Finance Authority (PFA), Wis.'s approximately $75.393 million series 2024-1 Class A Affordable Housing Multifamily Certificates. The outlook is stable. The Class A Certificates will be at a fixed rate and secured by the beneficial interests of fourteen Underlying Enhanced Receipts that benefit from a standby credit enhancement agreement between Federal Home Loan Mortgage Corp. ("Freddie Mac") and the custodian, Wilmington Trust, N.A. The Underlying Enhanced Receipts represent ownership of related multifamily bonds that financed fourteen multifamily affordable housing properties. The standby credit enhancement agreement provides that Freddie Mac will pay any principal or interest due on the Underlying Enhanced Receipts but unpaid by a borrower. According to transaction documents,
