Community Housing Capital is pleased to announce its recent credit rating assignment by S&P Global Ratings, a leading provider of credit ratings, has assigned CHC a ‘AA-’ rating with a stable outlook. S&P highlighted in their report, “Key strengths of CHC’s ICR include their capital adequacy, profitability, and our view of management. The stable outlook reflects S&P Global ratings view that CHC’s financial strength will remain in line with the current rating through near-term periods of balance sheet growth”.
Additionally, Fitch Ratings assigned Community Housing Capital an ‘A+’ rating with a stable outlook. Regarding the rating, Fitch stated, “This reflects CHC’s strong revenue defensibility and stable operating risk profiles, which are bolstered by ongoing demand, effective oversight, as well as solid financial performance.”
These ratings from credit agencies are an exceptional achievement for a CDFI financing affordable housing development. It will enable CHC to have broader reach to access capital to support its borrower’s affordable housing and community development vision and programs.
“Ratings from S&P and Fitch is another step to ensuring capital reaches communities where it is most required,” says Cindy Holler President & CEO Community Housing Capital.
“These ratings from credit agencies demonstrate Community Housing Capital’s financial soundness,” says Arif Rizvi, Chief Financial Officer for Community Housing Capital. “We look forward to the ways this will enable us to access high-value investors and continue to fulfil our mission of providing equitable access to capital that is transformative for NeighborWorks organizations and their communities.”
Read Fitch’s full announcement: fitchratings.com
Read S&P’s full announcement: spglobal.com