Summary: Impact CIL Parent, LLC, California; Multifamily Whole Loan

S&P Global Ratings affirmed its 'A-' long-term rating on Impact CIL Parent, LLC (IMPACT CILP), Calif.'s revolving notes, series 2003-1. The outlook is stable. The series 2003-1 notes are secured by a pool of multifamily affordable housing loans and certificates evidencing participation in or securitization of affordable multifamily loans. The rating is based on our analysis of the credit quality of the notes, which evidence a loan issued to the borrower, IMPACT CILP, by a consortium of insurance companies pursuant to a revolving member loan (RML) agreement. IMPACT CILP uses proceeds from the RML to finance the purchase of permanent loans for affordable multifamily housing properties. The rating reflects the application of our criteria "Methodology For Rating U.S. Public Finance

...S&P Global Ratings affirmed its 'A-' long-term rating on Impact CIL Parent, LLC (IMPACT CILP), Calif.'s revolving notes, series 2003-1. The outlook is stable. The series 2003-1 notes are secured by a pool of multifamily affordable housing loans and certificates evidencing participation in or securitization of affordable multifamily loans. The rating is based on our analysis of the credit quality of the notes, which evidence a loan issued to the borrower, IMPACT CILP, by a consortium of insurance companies pursuant to a revolving member loan (RML) agreement. IMPACT CILP uses proceeds from the RML to finance the purchase of permanent loans for affordable multifamily housing properties. The rating reflects the application of our criteria "Methodology For Rating U.S. Public Finance Rental Housing Bonds", (RHB Criteria) published April 15, 2020, on RatingsDirect. In addition, the rating is based on a borrowing of a portion of our criteria "U.S. Public Finance Long-Term Municipal Pools: Methodology...

Summary