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 $149.990 million issue 2021-1 (non-AMT) bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its 'AA+' rating, with a stable outlook, on THDA's existing debt, issued under the 2013 general resolution. Officials intend to use issue 2021-1 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. This is the 26th issue under the 2013 general resolution, adopted on Jan. 29, 2013, and with approximately $2.714 billion of fixed-rate debt

...S&P Global Ratings assigned its '##+' rating and stable outlook to Tennessee Housing Development Agency's (THDA) proposed $149.990 million issue 2021-1 (non-AMT) bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its '##+' rating, with a stable outlook, on THDA's existing debt, issued under the 2013 general resolution. Officials intend to use issue 2021-1 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; pay capitalized interest, if any, and issuance costs; and fund the 3% bond reserve fund, if required. This is the 26th issue under the 2013 general resolution, adopted on Jan. 29, 2013, and with approximately $2.714 billion of fixed-rate debt outstanding at Feb. 28, 2021. All existing bonds are on parity with each other. The 2013 general resolution includes whole-loan mortgages totaling approximately $2.680...

Summary