Clearinghouse CDFI, CA Issuer Credit Rating Remains On CreditWatch Negative Pending Updated Information

Stocks and Financial Services Press Releases Friday December 23, 2016 08:55
SAN FRANCISCO--23 Dec--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) Dec. 22, 2016--S&P Global Ratings' 'AA' issuer credit rating on Clearinghouse CDFI, Calif. remains on CreditWatch with negative implications, where it had been placed on Aug. 30, 2016,

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

We have received notification from Clearinghouse that updated information is forthcoming.
For additional details on the CreditWatch placement, see the article published Aug. 30, 2016, on RatingsDirect.

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 spcapitaliq.com. All ratings referenced herein 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.


Latest Press Release

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Related Topics