S&P Global Ratings assigned its 'BBB-' long-term rating to Washington State Housing Finance Commission's $191.7 million nonprofit revenue bonds, series 2024, issued for Provident Group - SH I Properties LLC, La. (Provident - SH I or the borrower), the sole member of which is Provident Resources Group Inc. The outlook is stable. The series 2024 bonds are nonrecourse obligations of Provident - SH I, secured by the revenues of the Radford Court and Nordheim Court portfolio (the project or the facilities), two existing residential housing facilities currently owned and operated by the University of Washington (the university; see the article published Jan. 26, 2024, on RatingsDirect). The bonds are further secured by a leasehold interest in the acquisition of the
