Missouri Housing Agency Again Receives AA+ Credit Rating

December 6, 2010

by MHDC

Category: News || Housing & Development | No Comments

December 6, 2010 – (RealEstateRama) — Missouri Housing Development Commission (MHDC) has again received an “AA+” issuer credit rating from Standard & Poor’s Rating Services. Only three other housing finance agencies in the United States have received comparable ratings.

An issuer credit rating is Standard & Poor’s current opinion of MHDC’s overall financial capacity and willingness to meet its financial commitments as they come due.

Standard & Poor’s expressed its expectation that MHDC will continue its conservative approach to managing risk and its demonstrated financial strength. While recognizing that the agency’s profitability may come under pressure due to lower investment income and the cost of financing mortgage loan originations, Standard & Poor’s concluded that MHDC is well-positioned to absorb any market fluctuations.

In commenting on the rating, Margaret Lineberry, MHDC Executive Director, noted that Standard & Poor’s based its conclusion in part on the strong management team in place at MHDC. She went on to say that, “I am certainly very pleased with the agency’s performance, and I commend both our staff and MHDC’s Board of Commissioners for their continued hard work in helping us maintain our high standing among housing agencies nationwide.”

Missouri Housing Development Commission administers the federal and state funding for the construction and rehabilitation of affordable housing, offers low-interest mortgage loan programs for first-time homebuyers, and administers the Missouri Housing Trust Fund to help prevent homelessness and to provide emergency housing assistance for very low-income Missourians.

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