BOSTON – July 22, 2026 – Moody's Ratings has upgraded MassHousing's Issuer Rating to Aa2, citing its highly tenured management team, strong track record of advancing the Agency's mission, and very deep bench of talent.

"The Aa2 issuer rating reflects MassHousing's strong balance sheet, a growing federally insured loan portfolio, strong liquidity and solid operating performance, which will remain robust," Moody's said in announcing the upgrade from Aa3. "The financial strength is further enhanced by the oversight of a very proactive and experienced management team."

"The Moody's issuer rating upgrade not only reflects on the talent and hard work the Agency does every day to confront the housing challenges facing residents of the Commonwealth. The upgrade also sends an important message to the financial world," said MassHousing CEO Chrystal Kornegay. "An upgrade indicates higher credit quality, attracts more investors, and may help us lower the loan rates we offer to our borrowers."

In upgrading MassHousing's issuer rating, Moody's cited:

• MassHousing's experienced and tenured management team with a proven track record of navigating complex market environments and delivering sustained financial outcomes.
• The Agency's net position, liquidity, and risk management practices will provide a buffer against potential economic or policy shocks.
• Continued support from state and federal partners.
• MassHousing's highly tenured management team has a strong track record of advancing the agency's mission of expanding and preserving the stock of affordable housing while maintaining a sound financial profile.
• The management team has a very deep bench of talent that will support performance on a go-forward basis.
• Proactive and prudent management of (the Agency's) bond programs.

Additionally, the board of directors, which are well diversified in expertise, consist of seven members appointed by the Governor and two ex officio members, has been valuable in facilitating the mission and in helping bring additional funding and programs to agency.

"The Moody's upgrade is a testament to the extraordinary work of the MassHousing team. Under Chrystal Kornegay's leadership, the Agency has achieved unprecedented success in its mission to confront the Commonwealth's housing challenges," said Jeanne Pinado, Chair of the MassHousing Board. "This achievement strengthens the ability of the Agency to expand access to housing, while also continuing to innovate."

About MassHousing

MassHousing (The Massachusetts Housing Finance Agency) is an independent, financially self-sustaining agency created in 1966 to confront the Commonwealth's housing challenges. The Agency provides financing to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve rental housing. MassHousing uses housing finance to strengthen communities, to help people build economic prosperity, and to expand homeownership. Since its inception, MassHousing has provided more than $30 billion to support homeownership and rental housing opportunities across Massachusetts. For more information, visit www.masshousing.com. 

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