...S&P Global Ratings assigned its '##+' long-term rating to the Wyoming Community Development Authority's (WCDA) 2019 series 3 housing revenue bonds. In addition, WCDA plans to issue 2019 series 4 variable-rate bonds in conjunction with and on parity with the 2019 series 3 bonds, secured by the open indenture and a liquidity facility from Bank of America N.A., which we will rate separately from this transaction. Finally, we affirmed our '##+' long-term rating and various short-term ratings on the outstanding bonds previously issued under WCDA's 1994 parity indenture. The outlook on all ratings, where applicable, is stable. The '##+' long-term rating is based on our view of WCDA's 1994 Indenture credit characteristics as evidenced by the following strengths: + Strong credit quality of the mortgage loan collateral as evidenced by low delinquencies and foreclosures of 2.7%; + Strength of the indenture's consolidated cash flow runs, through a variety of stress scenarios, that show an unadjusted...
