Impact CIL Parent LLC, CA 2003-1 Notes Rating Raised To 'BBB' On Good Coverage And High Asset Quality

NEW YORK (S&P Global Ratings) Aug. 22, 2016--S&P Global Ratings raised its rating on Impact CIL Parent LLC, Calif.'s revolving notes, series 2003-1, to 'BBB' from 'BBB-'. The outlook is stable. "We base the rating on our view of the credit quality of the notes that evidence a loan issued to the borrower, Impact CIL Parent LLC, by a consortium of insurance companies pursuant to a revolving member loan agreement," said S&P Global Ratings credit analyst Raymond Kim. The upgrade reflects the following factors: Good debt service coverage (DSC) of the underlying multifamily mortgage loan pool with DSC of 1.44x on a pool of 45 loans in 21 states; High asset quality of collateral in the form of the mortgage

...NEW YORK (S&P Global Ratings) Aug. 22, 2016--S&P Global Ratings raised its rating on Impact CIL Parent LLC, Calif.'s revolving notes, series 2003-1, to '###' from '###-'. The outlook is stable. "We base the rating on our view of the credit quality of the notes that evidence a loan issued to the borrower, Impact CIL Parent LLC, by a consortium of insurance companies pursuant to a revolving member loan agreement," said S&P Global Ratings credit analyst Raymond Kim. The upgrade reflects the following factors: + Good debt service coverage (DSC) of the underlying multifamily mortgage loan pool with DSC of 1.44x on a pool of 45 loans in 21 states; + High asset quality of collateral in the form of the mortgage loan pool, cash, investments, and '###' as well as '##' rated tranches of prior securitizations, which results in excess assets of about $5.07 million that are rated '###' or higher; + The strong strategy and management provided by Impact Community Capital LLC, an experienced lender for...

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