Summary: Wyoming Community Development Authority; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+' long-term rating to the Wyoming Community Development Authority's (WCDA) series 2019-1 housing revenue bonds and its 'AA+/A-1+' rating to the authority's series 2019-2 housing revenue bonds, following the issuance of a standby purchase agreement (SBPA) provided by Royal Bank of Canada, acting through its New York branch. In addition, S&P Global Ratings affirmed its 'AA+' long-term rating and various short-term ratings on the WCDA's bonds outstanding, issued under the authority's 1994 parity indenture. The outlook on all ratings, where applicable, is stable. The 'AA+' long-term rating reflects our view of WCDA's 1994 indenture, including the following strengths: Strong credit quality of the mortgage loan collateral as evidenced by low delinquencies and foreclosures of 3.4%;

...S&P Global Ratings assigned its '##+' long-term rating to the Wyoming Community Development Authority's (WCDA) series 2019-1 housing revenue bonds and its '##+/A-1+' rating to the authority's series 2019-2 housing revenue bonds, following the issuance of a standby purchase agreement (SBPA) provided by Royal Bank of Canada, acting through its New York branch. In addition, S&P Global Ratings affirmed its '##+' long-term rating and various short-term ratings on the WCDA's bonds outstanding, issued under the authority's 1994 parity indenture. The outlook on all ratings, where applicable, is stable. The '##+' long-term rating reflects our view of WCDA's 1994 indenture, including the following strengths: + Strong credit quality of the mortgage loan collateral as evidenced by low delinquencies and foreclosures of 3.4%; + Strength of the indenture's consolidated cash flow runs, through a variety of stress scenarios, that show an unadjusted opening parity of 129.4% as of the July 1, 2018 basis date,...

Summary