S&P Global Ratings affirmed its 'AA+' long-term rating on Tennessee Housing Development Agency's (THDA) parity debt outstanding under THDA's 2013 general residential finance program bond resolution (the 2013 general resolution). The rating reflects the application of our criteria, Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs, published Oct. 10, 2022. The outlook is stable. The rating is no longer under criteria observation. Bonds issued under the 2013 general resolution are special limited obligations paid solely from the revenues and assets of THDA, which include revenues on program loans; non-mortgage receipts; all fund and accounts created by the 2013 general resolution (including the bond reserve fund); and all right, title, and interest of THDA in and to the program
