Strong financial performance contributed to a rating upgrade to Aa2 for VHFA's multiple purpose bonds from Moody's Investors Service last week. The rating applies to new multiple purpose bonds and all outstanding long-term debt under the multiple purpose bond program.
"The Aa2 long-term rating reflects the strong financial position of the Multiple Purpose Bond program as well as the Agency's decision to primarily originate mortgage backed securities, sound legal structure, cash flow projections that exhibit sufficient reserves to pay timely debt service and management oversight" explained Moody's March 1, 2017 Credit Opinion.
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