S&P Affirms National CORE's A+ Credit Rating for Fourth Consecutive Year
Standard & Poor's Global Ratings has affirmed the A+ credit rating for National CORE, a prominent nonprofit affordable housing developer. The affirmation follows a period of significant financial growth, characterized by revenue increasing faster than expenses and EBITDA nearly doubling year-over-year. S&P highlighted the organization's strong management, stable leadership, and extremely high liquidity levels. The company is actively diversifying its business model through an expanding geographic footprint in California, Texas, and Florida, alongside a growing fee-managed property portfolio. National CORE expects its managed apartment units to exceed 14,000 by 2028. This financial stability supports the organization's ability to issue social bonds and continue large-scale affordable housing developments.
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