We are pleased to announce that S&P Global Ratings, a leading independent credit ratings provider, has reaffirmed our AA- issuer credit rating (ICR) and long-term rating on our general obligation (GO) debt. This rating signifies our strong financial health and our ability to meet financial commitments on time.
Housing Catalyst was initially issued an AA- in 2016, and we have held this rating ever since. This report found that the outlook for our agency is stable.
What Does the Rating Mean?
An issuer credit rating (ICR) is a measure of our overall creditworthiness. Essentially, it indicates how capable and willing we are to repay our debts. Our AA- rating, which is just a few steps below the highest rating possible, reflects our robust financial management and stable outlook.
Why Is This Important?
For over 50 years, Housing Catalyst has provided affordable housing solutions in Fort Collins, Colorado. The reaffirmed rating is a testament to our strong financial position and effective management. It assures our partners, investors, and the community that we are financially stable and well-governed.
Key Highlights
- Stable Outlook: The stable outlook reflects our expectation that our financial and operational profiles will remain consistent over the next two years.
- Strong Financial Risk Profile: Our financial profile is backed by strong debt management, a solid liquidity position, and effective use of resources.
- Very Strong Management: Our experienced senior management team continues to demonstrate dedication to our mission and strategic goals and is supported by our board involvement and overall strategy and mission.
- Very Strong Enterprise Risk Profile: There is a high demand for affordable housing in Fort Collins, and we will continue to leverage public-private partnerships, as well as traditional funding sources, to create additional housing opportunities.
- Community Impact: We own and operate over 1,100 housing units and administer approximately 1,638 vouchers, supporting low-income residents and families in Fort Collins.
Commitment to Our Mission
Housing Catalyst remains committed to our mission of providing sustainable, long-term housing with affordable rents. This rating reaffirmation underscores our efforts to maintain financial stability while addressing the growing need for attainable housing in our community.
We will continue to work diligently to support our residents and the broader community, ensuring access to safe and affordable housing for all.
