Washington State Housing Finance Commission 2021-1 Class A-X Certificates Assigned 'BBB+' Rating

NEW YORK (S&P Global Ratings) May 4, 2021--S&P Global Ratings assigned its 'BBB+' rating to the Washington State Housing Finance Commission's (WSHFC) series 2021-1 class A and class X multifamily mortgage loan pass-through certificates. The outlook is stable. "The rating reflects our view of WSHFC's asset-to-liability parity ratio of 103.75% for the class A certificates, as of May 2021; certificates secured by a pledge of 28 first-mortgage loans on affordable multifamily rental housing properties; strong/adequate market position; and servicing and loan-level reporting provided by Berkadia Commercial Mortgage LLC, which we view as a credit positive," said S&P Global Ratings credit analyst Ki-Beom Park. The class A certificates will be issued with a 3.50% fixed rate and a planned par amount

...NEW YORK (S&P Global Ratings) May 4, 2021--S&P Global Ratings assigned its '###+' rating to the Washington State Housing Finance Commission's (WSHFC) series 2021-1 class A and class X multifamily mortgage loan pass-through certificates. The outlook is stable. "The rating reflects our view of WSHFC's asset-to-liability parity ratio of 103.75% for the class A certificates, as of May 2021; certificates secured by a pledge of 28 first-mortgage loans on affordable multifamily rental housing properties; strong/adequate market position; and servicing and loan-level reporting provided by Berkadia Commercial Mortgage LLC, which we view as a credit positive," said S&P Global Ratings credit analyst Ki-Beom Park. The class A certificates will be issued with a 3.50% fixed rate and a planned par amount balance of $572 million. Class A certificate holders are entitled to distributions of note principal and accrued interest. The class X certificate holders will only receive interest distributions equal...

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