Connect CRE reports the action covers the nonprofit's issuer credit rating and outstanding long-term debt.
S&P Global Ratings upgraded BRIDGE Housing's issuer credit rating and the long-term rating on its outstanding debt to AA from AA-, according to a Connect CRE report published Oct. 9.
Connect CRE describes AA as the highest rating assigned to a nonprofit housing provider.
S&P cited "extremely strong" management, financial performance and debt profile in raising the ratings, the report says.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections
NIC logged a 21st straight quarterly gain in those markets; just over 16,000 units were under construction in the second quarter.
StorageCafe says construction has concentrated in suburbs of fast-growing metros, but the balance is tilting toward urban sites in mid-sized markets.
Private-label deals hold 12% of the $635.82 billion tracked universe but 50.2% of the $11.6 billion delinquent debt, with a 7.69% delinquency rate.
Bridge Investment Group and Pacific Development borrowed the bridge loan, which funded an interest reserve and returned equity.
Bridge, Declaration Partners and Avery Hall are the sponsors; coupon and spread were not disclosed.
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