Key Takeaways
- We reviewed all sector ratings within scope following the release of our “Mortgage Revenue Bond Program” criteria, published Oct. 10, 2022.
- Overall, the extent and magnitude of rating actions aligned with our expectations, although the direction of rating actions was more uniformly positive than expected.
- Rating changes were limited to one notch.
- Application of the criteria resulted in minimal rating actions in the sector, and we expect continued rating stability under the new framework.
18 May, 2023