S&P Global Ratings assigned its 'AAA' long-term rating to the Virginia Housing Development Authority's (Virginia Housing) $75 million remarketed 2023 series E non-AMT, subseries E-5 and $150 million 2025 series A taxable commonwealth mortgage bonds (CMBs). At the same time, we affirmed our 'AAA' long-term rating and underlying rating (SPUR) on the CMB resolution and our 'AAA/A-1+' dual rating. The outlook is stable. Bonds issued within the CMB resolution are general obligations of Virginia Housing payable from the revenue, assets, and money pledged under the master indenture on a parity basis with all other obligations outstanding under the master indenture. The bonds are also supported by Virginia Housing's general obligation (GO) pledge (AA+). Proceeds of the 2025A bonds and 2023E-5
