El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+' - S&P Global Ratings’ Credit Research

El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+'

El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+' - S&P Global Ratings’ Credit Research
El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+'
Published Nov 06, 2024
2 pages (1168 words) — Published Nov 06, 2024
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Abstract:

CHICAGO (S&P Global Ratings) Nov. 6, 2024-- S&P Global Ratings assigned its 'A+' rating to EP Essential Housing WF PFC, Texas' approximately $145.4 million series 2024 residential development revenue bonds (HOME Essential Function Housing Program [Retreat at Mesa Hills Project]), issued on behalf of the El Paso Housing Authority (EP Home). At the same time, S&P Global Ratings affirmed its 'A+' issuer credit rating (ICR) on EP HOME and its 'A+' rating on the authority's outstanding bonds. The outlook is stable. "The rating reflects our view of EP HOME's extensive growth strategy to add 600 units per year through acquisitions and new construction to bring its overall portfolio around the city of El Paso to approximately 12,000 public housing and

  
Brief Excerpt:

...November 6, 2024 CHICAGO (S&P Global Ratings) Nov. 6, 2024-- S&P Global Ratings assigned its 'A+' rating to EP Essential Housing WF PFC, Texas' approximately $145.4 million series 2024 residential development revenue bonds (HOME Essential Function Housing Program [Retreat at Mesa Hills Project]), issued on behalf of the El Paso Housing Authority (EP Home). At the same time, S&P Global Ratings affirmed its 'A+' issuer credit rating (ICR) on EP HOME and its 'A+' rating on the authority's outstanding bonds. The outlook is stable. "The rating reflects our view of EP HOME's extensive growth strategy to add 600 units per year through acquisitions and new construction to bring its overall portfolio around the city of El Paso to approximately 12,000 public housing and affordable housing units," said S&P Global Ratings credit analyst Stuart Nicol. "Despite our view that EP HOME's existing debt level is elevated, we believe that its consistent financial oversight and history of positive operating...

  
Report Type:

Ratings Action

Issuer
El Paso Housing Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+'" Nov 06, 2024. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/El-Paso-Housing-Authority-TX-145-4-Million-Residential-Development-Revenue-Bonds-Rated-A-3279824>
  
APA:
S&P Global Ratings’ Credit Research. (). El Paso Housing Authority, TX $145.4 Million Residential Development Revenue Bonds Rated 'A+' Nov 06, 2024. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/El-Paso-Housing-Authority-TX-145-4-Million-Residential-Development-Revenue-Bonds-Rated-A-3279824>
  
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