Standard & Poor’s Global Ratings (S&P) has reaffirmed Housing Trust’s AA- credit rating and revised the outlook to positive from stable. Housing Trust was the first nonprofit CDFI to be rated by S&P back in 2015 and this marks our 10th consecutive AA- rating.
S&P’s Global Ratings analysis stated:
- “In our opinion, Housing Trust’s financial strength, management strategy, and economic profile are in line with our ‘AA-‘ rating. The organization’s capital base is very strong compared with that of peers and we believe its management and strategy afford a strong market position in the area economy, including partnerships with public and private entities that help further its mission.”
Over the past 10 years, the S&P rating has enabled Housing Trust to significantly diversify our investor base, attracting funding from organizations including Apple, Cisco, the David and Lucile Packard Foundation, Google, the Grove Foundation, LinkedIn, NetApp, PureStorage, The Sobrato Foundation, Jewish Community Federation & Endowment Fund, and many others.
Since 2015, our total assets have grown $224 million, growth of more than 5 times the initial asset base. Over that same period, Housing Trust has made loans of over $509 million to support over 12,000 affordable homes across the greater Bay Area.