Impact CIL Parent LLC, California; Affordable Housing - S&P Global Ratings’ Credit Research

Impact CIL Parent LLC, California; Affordable Housing

Impact CIL Parent LLC, California; Affordable Housing - S&P Global Ratings’ Credit Research
Impact CIL Parent LLC, California; Affordable Housing
Published May 21, 2008
1251 words — Published May 21, 2008
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Abstract:

Standard&Poor's Ratings Services affirmed its 'BBB-' rating on Impact CIL Parent LLC, Calif.'s subordinated pass-through notes series 2003-1. The rating reflects the following strengths: Strong average debt service coverage of 1.29x for the entire loan portfolio; More than sufficient reserves to cover potential losses under Standard&Poor's pool model assumptions at the 'BBB-' level; Portfolio of cross collateralized loans consisting of over 8700 units of affordable housing; Five loans covered by an LOC provided by Bank of America (AA-), with an additional 39 loans covered by a put to Bank of America; and Strong loan servicer in Pacific Life. The stable outlook reflects the high level of reserves to cover losses under Standard&Poor's pool model

  
Brief Excerpt:

RESEARCH Impact CIL Parent LLC, California; Affordable Housing Publication date: 21-May-2008 Primary Credit Analyst: Valerie White, New York (1) 212-438-2078; valerie_white@standardandpoors.com Secondary Credit Analyst: Mikiyon Alexander,...

  
Report Type:

Full Report

Issuer
Impact CIL Parent, LLC
Sector
Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Impact CIL Parent LLC, California; Affordable Housing" May 21, 2008. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Impact-CIL-Parent-LLC-California-Affordable-Housing-649692>
  
APA:
S&P Global Ratings’ Credit Research. (). Impact CIL Parent LLC, California; Affordable Housing May 21, 2008. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Impact-CIL-Parent-LLC-California-Affordable-Housing-649692>
  
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