2016 Annual Report

Alaska Housing Finance Corporation

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

 

$14,200,000

 

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.

Bonds

$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:

bonds-stable

 

During FY16, AHFC achieved approximately $4.3 million of net present value debt service savings from debt refunding.