Summary: Wyoming Community Development Authority; General Obligation

S&P Global Ratings affirmed its 'AA' issuer credit rating (ICR) on the Wyoming Community Development Authority (WCDA). The outlook is stable. The rating reflects our view of WCDA's following strengths: Strong and stable S&P-adjusted net equity position, as indicated by the authority's five-year average S&P-adjusted net equity to total assets ratio of 23.6%, evidence of sufficient resources to support general obligation debt, sustain operations during economic downturns, and continue to fund programs that further the authority's mission; Very strong asset quality as evidence by low non-performing assets (NPAs), defined as loans 60-plus days delinquent or in foreclosure, to total loans and real estate owned (REO) of 3.15% in fiscal 2019, down from 5.6% in 2014; Strong profitability as evidenced by

...S&P Global Ratings affirmed its '##' issuer credit rating (ICR) on the Wyoming Community Development Authority (WCDA). The outlook is stable. The rating reflects our view of WCDA's following strengths: + Strong and stable S&P-adjusted net equity position, as indicated by the authority's five-year average S&P-adjusted net equity to total assets ratio of 23.6%, evidence of sufficient resources to support general obligation debt, sustain operations during economic downturns, and continue to fund programs that further the authority's mission; + Very strong asset quality as evidence by low non-performing assets (NPAs), defined as loans 60-plus days delinquent or in foreclosure, to total loans and real estate owned (REO) of 3.15% in fiscal 2019, down from 5.6% in 2014; + Strong profitability as evidenced by the authority's five-year average net interest margin (NIM) of 1.6%, indicating efficient and effective management of loan and debt portfolios; + High demand for affordable loan products as...

Summary