WHPC Rated AA- In S&P Global Ratings Report

S&P Global Ratings affirmed its ‘AA-‘ issuer credit rating (ICR) on Wisconsin Housing Preservation Corp. (WHPC) in November 2022. S&P’s opinion of the corporation includes low industry risk, strong financial performance, and stable outlook, among other factors, including:

  • Very strong enterprise risk profile, supported by our assessment of very strong market dependencies and low industry risk;
  • Very strong financial risk profile, characterized by strong and very strong financial performance and debt profile assessments based on average EBITDA-to-adjusted revenues and total debt-to-EBITDA ratios of 30.4% and 13.41x respectively in fiscal 2021, as well as WHPC’s extremely strong liquidity assessment due to an estimate of liquidity ratio of over 4 times sources over uses during the next 12 months;
  • Very strong management and governance as reflected by a highly experienced management team, including an in-house asset management division and an experienced and dedicated board of directors and advisors; and
  • Detailed strategic plan that outlines WHPC’s mission to grow the portfolio through new development, enhance the housing portfolio’s physical condition, and improve access to social services for its residents.

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