FOR IMMEDIATE RELEASE:
Director, Marketing & Communications
Denver, CO—Aeris has upgraded Mercy Loan Fund (MLF) from AA to AA+ on the standard Wall Street scale, putting MLF in the top 15% of rated Community Development Financial Institutions (CDFI). MLF’s rating has increased three levels in the past two years. Aeris Financial Ratings asses capitalization, asset quality, management, earnings, and liquidity to evaluate the financial strength of CDFIs.
“We feel very gratified to have received this upgrade,” said Jason Battista, President of MLF. “It demonstrates that MLF continues to move in the right direction to become a more sophisticated organization with a deep commitment to sustainability and providing impact to our nation’s most vulnerable populations. Moreover, this rating, which is increasingly important to all types of investors, will help us raise capital and grow our business in the future.”
MLF’s AA+ rating signifies that it exhibits strong financial performance, minimal risk profile, and consistent growth in flexible funding to socially-responsible community developers in support of affordable housing. MLF has consistently received higher ratings for their social impact, policy leadership and financial performance.
About Mercy Loan Fund
For three decades, Mercy Loan Fund has focused exclusively on funding affordable housing and essential community infrastructure projects that support affordable housing. By collaborating with socially-responsible developers, Mercy Loan Fund has helped finance the development of single and multifamily homes for rental and homeownership. These developments help a variety of people including low-income families, the working poor, seniors, farm works, people who have experienced homelessness, and people with special needs. Mercy Loan Fund is a subsidiary of the affordable housing nonprofit, Mercy Housing. For more information, please visit http://www.mercyloanfund.org.