S&P Global Ratings' long-term rating on all home ownership mortgage-backed tax-exempt securities (HOMES) certificates rated under the Utah Housing Corp.'s (UHC) HOMES program is 'AA+.' The outlook is stable. HOMES certificates issued within the HOMES program are a series of monthly pass-through securities that are separately secured by a related pass-through mortgage-backed securities (MBS) certificate. The HOMES certificates are special, limited obligations of UHC, payable solely from and secured by the pledge pursuant to the indenture of the related revenues, the related MBS, and the funds pledged thereto under the indenture. UHC entered a master securities forward-transaction agreement with Wells Fargo Bank N.A. (Wells Fargo), dated March 28, 2013, under which UHC agreed to sell HOMES certificates to Wells Fargo.
