...November 3, 2023 SAN FRANCISCO (S&P Global Ratings) Nov. 3, 2023--S&P Global Ratings assigned its '##+' long-term rating to the Virginia Housing Development Authority's (Virginia Housing) $167.9 million series 2023F non-AMT rental housing bonds. At the same time, we affirmed our '##+' long-term rating on Virginia Housing's rental housing bond resolution. The outlook is stable. The series 2023F bond proceeds will be used to finance one or more mortgage loans. "The rating reflects our view of such factors as the program's overcollateralization and cash flows capable of withstanding S&P Global Ratings-projected loss assumptions, sufficient liquidity to cover short-term disruptions in asset cash flows, and market position characteristics stronger than those of the national housing market," said S&P Global Ratings credit analyst Aulii Limtiaco. The stable outlook reflects our view of Virginia Housing's intended strategy within the RHB resolution, and its approach to financing multifamily loans....
