BRIDGE first earned the rating in 2015 as part of its five-year strategic initiative to double its production of affordable and mixed-income housing. The following views are among those cited in Standard & Poor’s rating of BRIDGE:
- Extremely strong management and a strategic plan that supports its mission to provide quality low-income housing in the least affordable markets
- Very strong enterprise risk profile supported by extremely strong economic fundamentals, extremely strong asset quality, and robust development plans
- Strong and improved liquidity ratio
- Strong financial profile, reflected by the ability to cover operating and maintenance costs from rental income, and its capacity to repay debt obligations
- Ability to generate revenue streams from in-house development and operating activities, thereby lessening the appropriation risk associated with reliance on federal funding streams
“Attracting and being a good steward of capital is critical to revitalizing neighborhoods and meeting the need for affordable housing,” said Cynthia A. Parker, President and CEO of BRIDGE Housing. “The A+ rating validates the solid business model that we’ve demonstrated to investors and lenders for 35 years. We anticipate this will enhance BRIDGE’s efforts to raise debt and equity for development and preservation of affordable and mixed-income housing.”
The report may be downloaded from http://bridgehousing.com/PDFs/BHC_SP_Rating_DEC2017.pdf and www.standardandpoors.com (registered users only).
For more information about BRIDGE Housing, visit bridgehousing.com.
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