Wall Street & AHFC
STRONG BACKING FROM WALL STREET
AHFC continues to be among the strongest housing finance agencies in the country according to the independent rating agencies Standard and Poor’s Ratings Service, Moody’s Investors Service and Fitch Ratings. AHFC maintained its high general obligation credit rating at AA+ with Standard and Poor’s and Fitch and an Aa2 rating by for Moody’s throughout FY16.
Positive Operating Income
AHFC OPERATING INCOME JUMPS 67 PERCENT
AHFC posted operating income of $14.2 million for FY16, compared to operating income of $8.5 million in FY15. As of June 30, 2016, AHFC’s total net position was $1.5 billion. During FY16, AHFC’s mortgage loan portfolio increased 5.8 percent to $2.82 billion, while its bond portfolio decreased 5.4 percent to $2.1 billion.
$55.6 MILLION IN BONDS ISSUED
During FY16, AHFC issued $55.6 million of long-term debt to refund higher cost debt, reduce debt service payments, and continue its lending programs.
The table below presents additional information relating to long-term debt issued by AHFC in FY16:
During FY16, AHFC achieved approximately $4.3 million of net present value debt service savings from debt refunding.