S&P Global Ratings assigned its 'AA+' rating and stable outlook to Tennessee Housing Development Agency's (THDA) issue 2017-4A and 2017-4B residential finance program (RFP) bonds, issued under THDA's 2013 General Residential Finance Program Bond Resolution (the 2013 general resolution), and affirmed its 'AA+' rating, with a stable outlook, on THDA's existing bonds issued under the 2013 general resolution. This is the 13th issue under THDA's 2013 general resolution, adopted on Jan. 29, 2013. All existing bonds are on parity with each other, as well as with the issue 2017-4 bonds. The rating reflects our opinion of THDA's: Strong resolution cash flows with a July 1, 2017, asset-to-liability (A/L) parity ratio of 115.5% and a minimum A/L parity ratio of 112.5%;
