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.


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