Colorado Housing&Finance Authority Issuer Credit Rating Raised To 'A+' On Positive Credit Trends

CENTENNIAL (S&P Global Ratings) May 22, 2018--S&P Global Ratings raised its issuer credit rating (ICR) to 'A+' from 'A' on Colorado Housing&Finance Authority (CHFA). The outlook is stable. The rating and outlook apply to all debt supported by the authority's general obligation (GO) pledge. "The improved rating reflects several positive credit trends exhibited by the authority over the last five years," said S&P Global Ratings credit analyst Joanie Monaghan. "Specifically, continued increases in net equity position and marked decrease in delinquencies supporting a strong asset quality assessment. Furthermore, the authority's strategic approach to decreasing its overall variable-rate-debt exposure--thus decreasing reliance upon swap and liquidity counterparties--is also viewed as risk-adverse and as a positive trend." The stable outlook reflects

...CENTENNIAL (S&P Global Ratings) May 22, 2018--S&P Global Ratings raised its issuer credit rating (ICR) to 'A+' from 'A' on Colorado Housing & Finance Authority (CHFA). The outlook is stable. The rating and outlook apply to all debt supported by the authority's general obligation (GO) pledge. "The improved rating reflects several positive credit trends exhibited by the authority over the last five years," said S&P Global Ratings credit analyst Joanie Monaghan. "Specifically, continued increases in net equity position and marked decrease in delinquencies supporting a strong asset quality assessment. Furthermore, the authority's strategic approach to decreasing its overall variable-rate-debt exposure--thus decreasing reliance upon swap and liquidity counterparties--is also viewed as risk-adverse and as a positive trend." The stable outlook reflects our view that CHFA will continue to operate and perform at the 'A+' level. Because CHFA's profitability and equity ratios have been either improving...

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