...April 10, 2025 ENGLEWOOD (S&P Global Ratings) April 10, 2025--S&P Global Ratings assigned its '###' long-term rating to the Virginia Housing Development Authority's (Virginia Housing) $70 million remarketed 2024 series F non-AMT, subseries F-1, and $140 million 2025 series B taxable commonwealth mortgage bonds (CMBs). At the same time, we affirmed our '###' long-term rating and underlying rating (SPUR) on the CMB resolution and our '###/A-1+' dual rating on the authority's series 2024 F bonds. The outlook is stable. Proceeds of the 2025B bonds and 2024F-1 remarketed bonds will finance mortgage loans, as will other available assets and proceeds of other CMBs. The 2024 subseries F-1 bonds were issued on Nov. 21, 2024, and $70 million is subject to mandatory tender by May. 20, 2025, when they will be remarketed according to the terms of the preliminary transaction documents. "The stable outlook reflects our view that overcollateralization, as measured by the minimum asset-to-liability parity...
