SACRAMENTO, Calif.--(BUSINESS WIRE)--The California Housing Finance Agency is pleased to announce that Moody’s Investor Service has raised CalHFA’s Issuer Rating from ‘A3’ to ‘A2,’ with a Stable Outlook.
The full ratings report reflects the Agency’s continued improvement in financial performance, the improved quality of single family assets and strength of multifamily assets, enhanced performance in stress cash flows and subsiding pressure from variable rate debt and interest rate hedges.
“This is the second ratings agency to acknowledge the work and progress we’ve made since the depths of the housing crisis,” said Tia Boatman Patterson, CalHFA’s Executive Director. “We are on sound financial footing, and we look forward to using this latest ratings upgrade to help even more Californians find a place to call home.”
The California Housing Finance Agency was created in 1975 with the goal of helping more Californians find a place to call home. CalHFA is a self-supported state agency that doesn't rely on taxpayer dollars. For more information on CalHFA programs, and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free 877.9.CalHFA (877.922.5432).