Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Massachusetts Housing Finance Agency's (MassHousing) single-family housing revenue bond program series 149B and 155. At the same time, Standard & Poor's affirmed its various ratings on the agency's outstanding notes and bonds. The outlook is stable. The 'AA' rating reflects our opinion of the following strengths: The credit quality of the single-family loan portfolio sufficient for the 'AA' rating; Economic stress scenario cash flows indicating strengthening of the indenture's equity position over time; Sufficiency of reserves to provide liquidity for delinquent mortgage loans; Fully funded loss coverage at the 'AA' level using economic stress scenario cash flows; Credit quality of investments under the resolution; and The agency's top-tier designation....
Companies mentioned in this report are:
- Massachusetts Hsg Fin Agy
Action: New Rating
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Research Type: Full Analysis