Summary: Massachusetts Housing Finance Agency; Single Family Whole Loan Oct 10

Standard & Poors, October 2010

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 149A, 150, 151, 152, 153, and 154. 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 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...

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

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

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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