Summary: Massachusetts Housing Finance Agency; Single Family Whole Loan Jun 07

Standard & Poors, June 2007

Abstract
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 130 and 131. At the same time, Standard & Poor's affirmed its various ratings on the agency's outstanding notes and bonds. The 'AA' rating reflects: The credit quality of the single-family loan portfolio sufficient for the 'AA' rating, Cash flows indicating a significant 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, Credit quality of investments under the resolution, and The agency's top-tier designation. The 'SP-1+' ratings on the notes reflects the investment of note proceeds in investments commensurate with the...

Companies mentioned in this report are:
- Massachusetts Hsg Fin Agy

Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Massachusetts Hsg Fin Agy

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