Clearinghouse CDFI, CA Issuer Credit Rating Placed On CreditWatch Negative On Debt Profile And Loan Portfolio Changes

Stocks and Financial Services Press Releases Wednesday August 31, 2016 08:53
SAN FRANCISCO--31 Aug--S&P Global Ratings
SAN FRANCISCO (S&P Global Ratings) Aug. 30, 2016--S&P Global Ratings placedits 'AA' issuer credit rating on Clearinghouse CDFI, Calif. on CreditWatchwith negative implications.

"The CreditWatch placement reflects S&P Global Ratings' opinion that the CDFIhas undertaken significant changes in its debt profile and loan portfolio infiscals 2014 and 2015," said S&P Global Ratings credit analyst Jose Cruz."Moreover, Clearinghouse also acquired Arizona Multibank Community DevelopmentCorp. in fiscal 2015, and we will need additional information to analyze the

impact of the acquisition."

S&P Global Ratings will analyze additional information regarding theaforementioned events, and expects to resolve the CreditWatch placement within90 days. In our opinion, the events in fiscals 2014 and 2015 could negativelyimpact Clearinghouse's ICR. Conversely, after reviewing additional

information, we could conclude that the aforementioned risks have beenmitigated, which could result in the affirmation of the current 'AA' rating.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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