NEW YORK – Fitch Ratings Ltd. has assigned an “AA-” rating to the Mass. Housing Finance Agency’s $66.88 million in 2008 series-A Block II housing bonds. (MassHousing plans to issue additional blocks of series-A bonds this year to a total of $100 million, the ratings agency said.)
Fitch has affirmed the the “AA-” rating on the $1.5 billion of housing bonds outstanding under the parity resolution as of June 30, 2007.
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The bond’s rating reflects “the sound credit quality of the loan portfolio and the projected over collateralization (OC) of the bonds, as well as cash flow surpluses sufficient to offset potential cash flow interruptions from future loan-payment delinquencies, adequate legal provisions of the resolution, and MassHousing’s strong programmatic oversight capabilities,” Fitch said.
Fitch Ratings Ltd. is an international credit-rating agency with headquarters in New York City and London. Additional information, including Fitch’s scores for Rhode Island and other state and municipal bonds, is available at www.fitchratings.com.
To learn more about the Mass. Housing Finance Agency, “the state’s affordable housing bank,” visit www.MassHousing.com.
