...February 20, 2025 ENGLEWOOD (S&P Global Ratings) Feb. 20, 2025--S&P Global Ratings assigned its '##+' long-term rating to the Virginia Housing Development Authority's (Virginia Housing) $172.52 million 2025A non-AMT tax-exempt rental housing bonds. At the same time, we affirmed our '##+' long-term rating on Virginia Housing's rental housing bond (RHB) resolution. The outlook is stable. "The rating reflects our view of the program's legal framework, program management and operational risk assessment, overcollateralization and cash flows, sufficient liquidity to cover short-term disruptions, market position characteristics, and construction risk," said S&P Global Ratings analyst Jessica Pabst. The stable outlook reflects our view of Virginia Housing's intended strategy within the RHB resolution, and its approach to financing multifamily loans. The rating will likely remain constrained in the near term based on management's continued strategy to use the resolution's net assets through the...
