Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8 - S&P Global Ratings’ Credit Research

Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8

Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8 - S&P Global Ratings’ Credit Research
Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8
Published Sep 05, 2019
5 pages (1628 words) — Published Sep 05, 2019
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings lowered the following long-term ratings on bonds issued on behalf of Global Ministries Fellowship (GMF), Tenn., a nonprofit corporation that develops and operates affordable housing: To 'B-' from 'BB-' on Bellemont LLC bonds, To 'B-' from 'B+' on Louisiana Chateau LLC series 2009A bonds, To 'B+' from 'BB-' on Parc Fontaine LLC bonds, and To 'B+' from 'BB-' on Willows LLC bonds. At the same time, we affirmed our 'CCC+' long-term rating on Louisiana Chateau series 2009B bonds. The outlook on all the ratings is negative. The rating actions reflect our assessment of the most recent audited financial statements available (fiscal 2018). All properties have exhibited and continue to exhibit signs of both physical and financial decline,

  
Brief Excerpt:

...S&P Global Ratings lowered the following long-term ratings on bonds issued on behalf of Global Ministries Fellowship (GMF), Tenn., a nonprofit corporation that develops and operates affordable housing: + To 'B-' from '##-' on Bellemont LLC bonds, + To 'B-' from 'B+' on Louisiana Chateau LLC series 2009A bonds, + To 'B+' from '##-' on Parc Fontaine LLC bonds, and + To 'B+' from '##-' on Willows LLC bonds. At the same time, we affirmed our '###+' long-term rating on Louisiana Chateau series 2009B bonds. The outlook on all the ratings is negative. The rating actions reflect our assessment of the most recent audited financial statements available (fiscal 2018). All...

  
Report Type:

Full Report

Issuer
Global Ministries Fellowship
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8" Sep 05, 2019. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-Tennessee-Louisiana-Local-Government-Environmental-Facilities-Community-Development-Authority-Affordable-Housing-Section-8-2294204>
  
APA:
S&P Global Ratings’ Credit Research. (). Global Ministries Fellowship, Tennessee Louisiana Local Government Environmental Facilities Community Development Authority; Affordable Housing; Section 8 Sep 05, 2019. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-Tennessee-Louisiana-Local-Government-Environmental-Facilities-Community-Development-Authority-Affordable-Housing-Section-8-2294204>
  
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