Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan

S&P Global Ratings assigned its 'AA+' rating and positive outlook to Virginia Housing Development Authority's (VHDA) approximately $30 million series 2021G taxable rental housing bonds and affirmed its 'AA+' rating, with a positive outlook, on VHDA's previously issued debt under the rental-housing-bond resolution. VHDA's rental-housing-bond-resolution pledge and assets secure the series 2021G bonds and existing debt. In addition, VHDA's general-obligation (GO) pledge secures the bonds. The rating reflects our analysis of both revenue streams, according to our criteria, titled "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011, on RatingsDirect. Both pledges are of equal credit quality, according to our analysis. Officials plan to use series 2021G bond proceeds to fund new mortgage loans. VHDA expects

...S&P Global Ratings assigned its '##+' rating and positive outlook to Virginia Housing Development Authority's (VHDA) approximately $30 million series 2021G taxable rental housing bonds and affirmed its '##+' rating, with a positive outlook, on VHDA's previously issued debt under the rental-housing-bond resolution. VHDA's rental-housing-bond-resolution pledge and assets secure the series 2021G bonds and existing debt. In addition, VHDA's general-obligation (GO) pledge secures the bonds. The rating reflects our analysis of both revenue streams, according to our criteria, titled "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011, on RatingsDirect. Both pledges are of equal credit quality, according to our analysis. Officials plan to use series 2021G bond proceeds to fund new mortgage loans. VHDA expects to issue the series 2021G bonds as fixed-rate bonds, subject to optional, sinking-fund, and special redemptions as outlined in the official...

Summary