Summary: Wyoming Community Development Authority; Single Family Whole Loan

S&P Global Ratings assigned its 'AA+/A-1' dual rating to Wyoming Community Development Authority's (WCDA) 2022 series 2 housing revenue bonds. The outlook is stable. The 2022 series 2 bonds, with a preliminary par value of $37.5 million, are being issued as variable-rate obligations and will receive enhancement in the form of a standby-bond purchase agreement (SBPA) from Barclays Bank PLC. The long-term component of the rating on the bonds reflects our view of WCDA's 1994 Indenture credit characteristics (AA+/Stable). The short-term component of the rating reflects our view of the liquidity support in the form of the SBPA provided by Barclays Bank PLC (A-1). The SBPA has an effective date of April 7, 2022, and it covers principal and 187

...S&P Global Ratings assigned its '##+/A-1' dual rating to Wyoming Community Development Authority's (WCDA) 2022 series 2 housing revenue bonds. The outlook is stable. The 2022 series 2 bonds, with a preliminary par value of $37.5 million, are being issued as variable-rate obligations and will receive enhancement in the form of a standby-bond purchase agreement (SBPA) from Barclays Bank PLC. The long-term component of the rating on the bonds reflects our view of WCDA's 1994 Indenture credit characteristics (##+/Stable). The short-term component of the rating reflects our view of the liquidity support in the form of the SBPA provided by Barclays Bank PLC (A-1). The SBPA has an effective date of April 7, 2022, and it covers principal and 187 days' interest for a maximum 12% annual rate for the purchase price of bonds that are not successfully remarketed. The SBPA covers bonds in the weekly interest-rate mode. The SBPA is scheduled to expire on April 7, 2027, at which time we will remove the...

Summary