Washington State Housing Finance Commission 2023-1 Class A, X Municipal Certificate Rating Raised To 'BBB+(sf)'

CHICAGO (S&P Global Ratings) Oct. 31, 2024--S&P Global Ratings raised its long-term rating on the Washington State Housing Finance Commission's (WSHFC) series 2023-1 class A and X municipal certificates (social certificates) to 'BBB+(sf)' from 'BBB(sf)'. The outlook is stable. "The upgrade reflects the improved loan portfolio performance for fiscal 2023, resulting in an improved coverage and liquidity assessment for the transaction," said S&P Global Ratings credit analyst Stuart Nicol. Class A certificate holders are entitled to distributions of note principal and accrued interest with a fixed rate of 3.375%. The class X certificate holders will only receive interest distributions equal to the underlying loan weighted-average rate less fixed expenses and the 3.375% class A fixed rate. The notional amount of

...October 31, 2024 CHICAGO (S&P Global Ratings) Oct. 31, 2024--S&P Global Ratings raised its long-term rating on the Washington State Housing Finance Commission's (WSHFC) series 2023-1 class A and X municipal certificates (social certificates) to '###+(sf)' from '###(sf)'. The outlook is stable. "The upgrade reflects the improved loan portfolio performance for fiscal 2023, resulting in an improved coverage and liquidity assessment for the transaction," said S&P Global Ratings credit analyst Stuart Nicol. Class A certificate holders are entitled to distributions of note principal and accrued interest with a fixed rate of 3.375%. The class X certificate holders will only receive interest distributions equal to the underlying loan weighted-average rate less fixed expenses and the 3.375% class A fixed rate. The notional amount of the class X certificates will be equal to the certificate balance of the class A certificates at all times, but will not have a principal balance and will therefore...

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