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Global Ministries Fellowship, TN Housing Bond Ratings Lowered To ?CCC? Due To Declining Physical, Financial Condition

Published Nov 30, 2020

3 pages (1394 words) — Published Nov 30, 2020

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Abstract:

SAN FRANCISCO (S&P Global Ratings) Nov. 30, 2020--S&P Global Ratings lowered the following long-term ratings on bonds issued for Global Ministries Fellowship (GMF), Tenn., a nonprofit corporation that develops and operates affordable housing: 'CCC' from 'B-' on Alabama Housing LLC's bonds; 'CCC' from 'BB-' on Indiana 4 LLC's bonds; 'CCC' from 'CCC+' on Forest Cove LLC's bonds; and 'CCC' from 'CCC+' on Peace Lake Towers' bonds. At the same time, we affirmed the following ratings: 'CCC' on Serenity Towers LLC's bonds; and 'CCC' on Stonekey LLC's bonds The outlook is negative. "The downgrades reflect our view of the continued decline in either the financial or physical condition, or both, of these credits as reported in the most recent audited financial

Report Type:

Ratings Action

Issuer

Global Ministries Fellowship

Sector

Public Finance

Country

United States

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Global Ministries Fellowship, TN Housing Bond Ratings Lowered To ?CCC? Due To Declining Physical, Financial Condition" Nov 30, 2020. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-TN-Housing-Bond-Ratings-Lowered-To-CCC-Due-To-Declining-Physical-Financial-Condition-2562578>

APA:	S&P Global Ratings’ Credit Research. (). Global Ministries Fellowship, TN Housing Bond Ratings Lowered To ?CCC? Due To Declining Physical, Financial Condition Nov 30, 2020. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-TN-Housing-Bond-Ratings-Lowered-To-CCC-Due-To-Declining-Physical-Financial-Condition-2562578>

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