2017 Annual Report

Alaska Housing Finance Corporation

High Ratings

Wall Street maintaining high ratings of AHFC

AHFC continues to be among the strongest housing finance agencies in the country according to the independent rating agencies S&P Global Ratings, Moody’s Investors Service and Fitch Ratings. AHFC has been rated Aa2 by Moody’s since 1997, AA+ by Fitch since 2000 and AA+ by S&P since 2010.

Operating Income

AHFC operating income remains stable

AHFC posted operating income of $14.3 million for FY17, compared to operating income of $14.2 million in FY16. As of June 30, 2017, AHFC’s total net position was $1.5 billion. During FY17, AHFC’s mortgage loan portfolio increased 3.3 percent to $2.9 billion, while the bond portfolio increased 2 percent to $2.1 billion.

Bonds Issued

$150 million in bonds issued

During FY17, AHFC issued $150 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 FY17:

 

Bond Issue Title & Amount Ratings
S&P / Moody's / Fitch
Date Issued Program Purpose Tax Status
$50,000,000 Collateralized Bonds (Veterans Mortgage Program) 2016 First and Second Series AAA/AAA/NR 07/27/2016 Debt Refunding/New Money Tax-Exempt
$100,000,000 General Mortgage Revenue Bond 20116 Series A AA+/NR/AA+ 08/24/2016 New Money Tax-Exempt

 

During FY17 AHFC achieved approximately $6.7 million of net present value debt service savings from debt refunding.