Summary: Tennessee Housing Development Agency; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' rating and stable outlook to Tennessee Housing Development Agency's (THDA) proposed $108.5 million issue 2020-2 (federally taxable) bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution), and affirmed its 'AA+' rating, with a stable outlook, on THDA's existing debt, issued under the 2013 general resolution. S&P Global Ratings also affirmed its 'AA+' rating and stable outlook on THDA's homeownership program resolution (the 1985 general resolution). Officials intend to use issue 2020-2 bond proceeds to refund all of the issue 2010-1 and issue 2011-1 bonds from the 1985 general resolution (rated AA+/Stable), and all of the issue 2011-A bonds, issue 2011-B/2009B-4 bonds, and issue 2011C/2009B-5 bonds from the 2009

...S&P Global Ratings assigned its '##+' rating and stable outlook to Tennessee Housing Development Agency's (THDA) proposed $108.5 million issue 2020-2 (federally taxable) bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution), and affirmed its '##+' rating, with a stable outlook, on THDA's existing debt, issued under the 2013 general resolution. S&P Global Ratings also affirmed its '##+' rating and stable outlook on THDA's homeownership program resolution (the 1985 general resolution). Officials intend to use issue 2020-2 bond proceeds to refund all of the issue 2010-1 and issue 2011-1 bonds from the 1985 general resolution (rated ##+/Stable), and all of the issue 2011-A bonds, issue 2011-B/2009B-4 bonds, and issue 2011C/2009B-5 bonds from the 2009 general resolution (not rated by S&P Global Ratings). Bond proceeds will also be used to pay capitalized interest, if any, and issuance costs, and fund the 3% bond reserve fund, if required....

Summary