“This affirmation of Reinvestment Fund’s ability to do well and do good is particularly encouraging at a time when so much feels uncertain,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund.
PHILADELPHIA (PRWEB) November 19, 2020
Reinvestment Fund announced today that its ‘A+’ issuer credit rating has been affirmed by S&P Global Ratings. Reinvestment Fund is a social enterprise lending organization and among a handful of such institutions that has been rated by S&P Global Ratings. S&P Global Ratings also affirmed its ‘A+’ long-term rating on Reinvestment Fund's series 2017 and 2018 taxable impact investment bonds.
“This affirmation of Reinvestment Fund’s ability to do well and do good is particularly encouraging at a time when so much feels uncertain,” said Don Hinkle-Brown, President and CEO of Reinvestment Fund. “The rating is also a reflection of the tremendous confidence—shared by our investors, our partners and most of all, our staff—in our ability to deliver on our mission of equitable growth.”
This rating is a powerful recognition of Reinvestment Fund’s demonstrated ability to meet its financial commitments through the strategic investment of capital in underserved communities. A recent example of a Reinvestment Fund investment is a new sports and learning complex in West Louisville, Kentucky, in partnership with the Louisville Urban League. The project is converting a long vacant 24-acre brownfield into a complex that will include indoor and outdoor facilities for sports, entertainment and community uses. The project is part of a broader revitalization effort in a neighborhood that has experienced decades of disinvestment. The project will create jobs, generate economic activity and provide opportunities for health, fitness and expanded services.
The strong, investment-grade credit rating from S&P Global Ratings helps potential investors understand Reinvestment Fund and lowers barriers for their financial support of its mission. The rating reflects the consistency of Reinvestment Fund’s financial position, which continues to steadily grow. S&P Global Ratings also emphasized the strength of Reinvestment Fund’s diversified portfolio, which reaches across multiple geographic markets and a variety of sectors including housing, education, healthy food and clean energy.
Reinvestment Fund pools investments from a range of sources to support its financing activity aimed at ensuring that people in all communities have the opportunities they strive for: affordable places to live, access to nutritious food, schools where their children can succeed, and strong, local businesses that support jobs. Since Reinvestment Fund’s founding 35 years ago, its wide array of investors has supported the deployment of $2.4 billion in community investments across the country. Through the first three quarters of this year alone, Reinvestment Fund provided $125 million in financing. Reinvestment Fund is headquartered in Philadelphia and has offices in Baltimore and Atlanta. Its work spans 43 states and the District of Columbia.