...August 20, 2021 SAN FRANCISCO (S&P Global Ratings) Aug. 20, 2021--S&P Global Ratings assigned its '##+' rating to the Tennessee Housing Development Agency's (THDA) proposed $99.99 million issue 2021-2 (non-AMT) social bonds issued under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). S&P Global Ratings also affirmed its '##+' rating on THDA's existing debt, issued under the 2013 general resolution. The outlook is stable. "The rating reflects our opinion of THDA's strong resolution cash flows; single-family, whole-loan portfolio of very strong credit quality; sufficient liquid reserves; very high-quality investments; and bond provisions and program management consistent with the rating," said S&P Global Ratings credit analyst Ki-Beom Park. Officials intend to use issue 2021-2 bond proceeds to purchase first-lien, 30-year, fully amortizing, single-family program loans for single-family, owner-occupied housing; pay capitalized interest, if any,...
