Global Ministries Fellowship, Tennessee; Section 8 - S&P Global Ratings’ Credit Research

Global Ministries Fellowship, Tennessee; Section 8

Global Ministries Fellowship, Tennessee; Section 8 - S&P Global Ratings’ Credit Research
Global Ministries Fellowship, Tennessee; Section 8
Published Aug 29, 2019
5 pages (1714 words) — Published Aug 29, 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: 'B-' from 'BB-' on Alabama Housing LLC's bonds, 'CCC+' from 'B-' on Peace Lake Towers' bonds, 'CCC' from 'CCC+' on Serenity Towers LLC's bonds, and 'CCC' from 'CCC+' on Stonekey LLC's bonds. The rating actions 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 statements available and Real Estate Assessment Center scores issued by the U.S. Department of Housing and Urban Development. At the same time, we affirmed the following ratings: 'BB' rating on

  
Brief Excerpt:

...Project name Rating action Previous rating Current rating Loan-to-value ratio (%; 2017) Loan-to-value ratio (%; 2018) Stonekey Apartments Lowered ###+/Negative ###/Negative 169.19 283.57 DSC--Debt service coverage. NCF--Net cash flow....

  
Report Type:

Full Report

Issuer
Global Ministries Fellowship
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Global Ministries Fellowship, Tennessee; Section 8" Aug 29, 2019. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-Tennessee-Section-8-2291325>
  
APA:
S&P Global Ratings’ Credit Research. (). Global Ministries Fellowship, Tennessee; Section 8 Aug 29, 2019. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-Tennessee-Section-8-2291325>
  
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