Summary: Tennessee Housing Development Agency; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' rating to the Tennessee Housing Development Agency's (THDA) proposed $90.82 million issue 2021-3A (non-AMT) social bonds and its 'A-1+' short-term to THDA's roughly $79.18 million series 2021-3B issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its 'AA+' rating on THDA's existing debt, issued under the 2013 general resolution. The outlook is stable. Officials intend to use issue 2021-3 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; refund series 2012-1 and 2012-2 bonds under 1985 general resolution; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. In addition, THDA

...S&P Global Ratings assigned its '##+' rating to the Tennessee Housing Development Agency's (THDA) proposed $90.82 million issue 2021-3A (non-AMT) social bonds and its 'A-1+' short-term to THDA's roughly $79.18 million series 2021-3B issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its '##+' rating on THDA's existing debt, issued under the 2013 general resolution. The outlook is stable. Officials intend to use issue 2021-3 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; refund series 2012-1 and 2012-2 bonds under 1985 general resolution; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. In addition, THDA will issue the series 2021-3B of short-term bonds that will use private activity bond volume cap that would otherwise expire in 2021. The proceeds of the issue...

Summary