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Issuer Type: State/Province
Economic Development Pool
On behalf of the Arkansas Development Finance Authority, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the Authority, as it allows us to make critical investments in public infrastructure throughout Arkansas. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of ADFA. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Cheryl Schluterman, President
The bond sale follows a review of the State’s bond rating by S & P Global Ratings earlier this month.
Arkansas maintains a “AA/Stable” rating which is reflective of the State of Arkansas’s balanced budget
and low unemployment.
Standard & Poor's Ratings Services has raised its rating on all bonds guaranteed by either the Arkansas
Development Finance Authority (ADFA) or Arkansas Economic Development Commission (AEDC)
Guaranty Programs to 'A+' from 'A'.
The Arkansas Development Finance Authority (ADFA) Board of Directors today awarded federal housing tax credits to thirteen affordable rental projects totaling more than $70 million in equity to build and preserve 464 affordable housing units in Benton, Crawford, Crittenden, Desha, Faulkner, Garland, Mississippi, Pulaski and Washington counties.
“The housing tax credits awarded today are the single largest source of funding for the development of quality affordable rental housing in Arkansas and will provide nearly 500 individuals and families with homes,” said ADFA President Aaron Burkes.
The Internal Revenue Service makes an annual per capita allocation of federal tax credits to each state for the Federal Low Income Housing Tax Credit (LIHTC) program. ADFA is charged with allocating those credits to affordable housing developers. The developers who receive tax credits sell them to investors to generate equity for the housing developments.