...S&P Global Ratings assigned its '##+' rating to the Virginia Housing Development Authority's (VHDA) approximately $149 million series 2021K non-alternative minimum tax, tax-exempt rental housing bonds and affirmed its '##+' rating on VHDA's previously issued debt under the rental-housing-bond resolution. The outlook is positive. The authority's rental-housing-bond-resolution pledge and assets secure the series 2021K 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 "Methodology: Rating Approach To Obligations With Multiple Revenue Streams" criteria published Nov. 29, 2011. Our rating is based on the GO pledge which we view as the stronger pledge. Officials plan to use series 2021K bond proceeds to fund seven new mortgage loans. The authority expects to issue the series 2021K bonds as fixed-rate bonds, subject to optional, sinking fund, and special redemptions as outlined...