DHA, Housing Solutions for North Texas Earns ‘A+’ Rating from S&P Global, Demonstrating the Agency’s Strong Financial Health and Governance

A+ Rating Also Assigned to Lakewest Senior Inc. $32.575 Million Series Revenue Bonds on Behalf of DHA

DALLAS--(BUSINESS WIRE)--DHA, Housing Solutions for North Texas, announced today it has earned an “A+” rating from S&P Global, the world’s leading provider of independent credit ratings. This rating affirms DHA’s financial health, governance, and ability to meet its financial commitments. The A+ rating denotes "strong" creditworthiness. It is the highest rating within the "A" category (A+, A, A-).

The same universal national rating standards are applied to private and public entities. Credit ratings are calculated/determined through a combination of quantitative financial metrics (such as debt ratios, cash flow, and liquidity) and qualitative factors (such as competitive position, industry dynamics, and management effectiveness). Rating committees of experienced analysts make final determinations.

DHA provides affordable housing solutions across seven counties in North Texas including: Collin, Dallas, Denton, Ellis, Kaufman, Rockwall, and Tarrant. This A+ rating from S&P Global is a testament to the agency’s strong financial position, responsible fiscal practice, and effective management. It assures agency partners, investors, and the community that the agency is financially sound and good stewards of resources.

Key highlights from the S&P Global report include the following details regarding DHA’s financial strength and responsible management:

• DHA has a very strong enterprise risk profile, consisting of our assessment of low industry risk, extremely strong market dependencies, and very strong management and governance.
• S&P Global believes that demand for affordable housing in the fast-growing Dallas metro area far outweighs the authority's existing and planned housing portfolio, and that DHA’s very strong management team will continue demonstrating its expertise while adapting to marketplace conditions.
• In S&P Global’s opinion, DHA maintains very strong management and governance characteristics, based on the assessment of its strategic planning process, consistency of strategy with operational capabilities and marketplace conditions, management expertise and experience, and financial policies and risk management standards.

S&P Global Ratings has also assigned its A+ long-term rating to the NTHP Lakewest Senior Inc. $32.575 million series 2026 residential development revenue bonds (Village at Lakewest Apartments), issued on behalf of DHA. The bonds will be invested to acquire the two developments to combine them into one community and approximately $10 million of those funds will be utilized for improvements including a new HVAC system, elevator upgrades, and replacement of roofs and windows.

“We are proud to have earned an A+ rating from S&P Global. Our focus on innovation and efficiency support our agency’s operational strength and cost management initiatives, which contributed to our rating,” said Troy Broussard, president and chief executive officer of DHA. “This rating will enable our agency to continue building affordable housing developments with competitive financing so we can better serve the community. Upcoming development initiatives, including the modernization of Roseland, updates at Lakewest, and redevelopment of Cedar Springs into workforce housing, may experience positive impacts from the A+ rating.”

Read the full S&P Global report: DHA S&P Global Ratings Report

Read the S&P press release: https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3537820

Learn more about credit ratings: https://www.spglobal.com/ratings/en/credit-ratings/about/understanding-credit-ratings

About DHA, Housing Solutions for North Texas (formerly the Dallas Housing Authority)

DHA, Housing Solutions for North Texas, provides quality, affordable housing to low-income families and individuals through the effective and efficient administration of housing assistance programs. The agency aims to create opportunities for program participants to achieve self-sufficiency and economic independence. DHA provides housing opportunities to ~53,500 people through public housing developments and Housing Choice Voucher (Section 8) programs. DHA’s mission is to provide affordable, quality housing and access to supportive resources across North Texas. The agency is governed by its Board of Commissioners and administers housing programs funded and regulated by the U.S. Department of Housing and Urban Development. DHA is an independent, local government entity that is separate from the Dallas City Housing/Community Services department, which is governed by the City of Dallas. For more information about DHA, please visit www.dhantx.com.