Moody's announces an upgrade of CalHFA's rating to Aa2 SACRAMENTO, June 22, 2023 — Moody's Investors Service has recognized the improved financial strength of the California Housing Finance Agency by upgrading CalHFA's Issuer Rating to "Aa2." It is the highest rating in Agency history and is among the top ratings that Moody's assigns to housing finance agencies nationwide. This also comes after another major credit rating agency, S&P Global Ratings, upgraded CalHFA's rating to "AA" in December of last year. These upgrades are a clear indication of the Agency's financial strength, and they empower CalHFA as it continues to develop new strategies to finance affordable housing opportunities for low- and moderate-income Californians. According to Moody's, the upgrade is based on very strong metrics compared to Agency peers, including asset-to-debt ratio and margins, solid loan performance and strong governance by management. "This rating has CalHFA well-positioned to explore creative new approaches to address the ongoing housing crisis in our state and, for that reason, this is great news for Californians who need a place to call home," said CalHFA Board Chair Jim Cervantes, a former Managing Director in the Public Finance Department with Stifel, Nicolaus & Co. Click here to view the full press release on the CalHFA website.  | 
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