Columbus Metropolitan Housing Authority; General Obligation

S&P Global Ratings assigned its 'A+' long-term rating to Columbus Metropolitan Housing Authority's (CMHA, or the authority) series 2021 general revenue bonds. At the same time, S&P Global Ratings affirmed its 'A+' issuer credit rating. The outlook is stable. The rating action reflects our opinion of the ICR and bonds, partially reflecting the implementation of our criteria, titled "Methodology For Rating Public And Nonprofit Social Housing Providers," published June 1, 2021, on RatingsDirect. The rating also reflects CMHA's stand-alone credit profile of 'a+' and our view that there is a moderate likelihood the federal government would provide timely and extraordinary support to CMHA in the event of financial distress. Series 2021 bond proceeds are expected to total approximately $33.5 million

...S&P Global Ratings assigned its 'A+' long-term rating to Columbus Metropolitan Housing Authority's (CMHA, or the authority) series 2021 general revenue bonds. At the same time, S&P Global Ratings affirmed its 'A+' issuer credit rating. The outlook is stable. The rating action reflects our opinion of the ICR and bonds, partially reflecting the implementation of our criteria, titled "Methodology For Rating Public And Nonprofit Social Housing Providers," published June 1, 2021, on RatingsDirect. The rating also reflects CMHA's stand-alone credit profile of 'a+' and our view that there is a moderate likelihood the federal government would provide timely and extraordinary support to CMHA in the event of financial distress. Series 2021 bond proceeds are expected to total approximately $33.5 million when issued, and will be used to for the acquisition, renovation, and operation of the Magnolia Trace property in the city of Columbus, consisting of 240 units of workforce housing and 53 garages....

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