S&P Global Ratings assigned its 'AAA' long-term rating to the Virginia Housing Development Authority's (Virginia Housing) $70 million remarketed 2024 series F non-AMT, subseries F-1, and $140 million 2025 series B 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 on the authority's series 2024 F bonds. 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+).
