S&P Global Ratings, a leading independent credit ratings provider, reaffirmed Housing Catalyst’s rating of AA- for both its issuer credit rating and general obligation debt. The report found that the outlook for the agency was stable.
A rating of AA- reflects a very strong capacity to meet financial commitments. Specifically, S&P’s analysis of Housing Catalyst found:
- Very strong enterprise risk profile, supported by our assessment of very strong market dependencies, specifically the need and demand for affordable housing in Fort Collins, and low industry risk;
- Very strong management and governance assessment based on senior management’s extensive experience and dedication to affordable housing, supported by the authority’s overall strategy and mission, board involvement and approval processes, and financial policies and risk management standards; and
- Strong financial risk profile.
Credit ratings are forward-looking opinions about an issuer’s relative creditworthiness, or likeliness to repay debts on-time and in full. Investors use these ratings to inform partnership decisions.
Housing Catalyst was initially issued a AA- rating in 2016.