BRIDGE is a top developer, owner and manager of affordable housing on the U.S. West Coast. 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
“To strengthen communities through affordable housing and holistic development, BRIDGE must attract capital, manage risk and be a top-notch steward of assets,” said Cynthia A. Parker, President and CEO of BRIDGE Housing. “The A+ rating validates the business model that we’ve demonstrated to investors and lenders for 35 years, and it enhances our ability to access new funding sources such as the Opportunity Zone program.”
The report may be downloaded from https://bridgehousing.com/bhc_sp_rating_feb2019/ and www.standardandpoors.com (registered users only). For more information about BRIDGE Housing, visit www.bridgehousing.com.