Washington State Housing Finance Commission?s Series 2023-1 Class A And Class X Certificates Rated ?BBB? (sf)

CHICAGO (S&P Global Ratings) Sept. 12, 2023--S&P Global Ratings assigned its 'BBB' (sf) long-term rating to the Washington State Housing Finance Commission's (WSHFC) approximately $328 million series 2023-1 class A and approximately $36 million class X municipal certificates (social certificates). The outlook is stable. 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

...September 12, 2023 CHICAGO (S&P Global Ratings) Sept. 12, 2023--S&P Global Ratings assigned its '###' (sf) long-term rating to the Washington State Housing Finance Commission's (WSHFC) approximately $328 million series 2023-1 class A and approximately $36 million class X municipal certificates (social certificates). The outlook is stable. 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 not be entitled to receive distributions of note principal. The class X rating reflects the application of our borrowing of the "Global Methodology For Rating Interest-Only...

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