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Raza Development Fund Rated AA(-) by S&P Global Credit Issuer

PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Tommy Espinoza • (602) 417-1415 • rmarinez@razafund.org

Raza Development Fund Rated AA(-) by S&P Global Credit Issuer

Phoenix, AZ.- The largest Latino CDFI in the country is recognized by independent rating agency on strong asset quality, capitalization levels, history of loan performance, and experienced management team with a strong social mandate.

S&P Global Ratings has assigned an AA(-) credit rating to the Raza Development Fund. “This strong credit rating is a testament to the fact that financing low-income Latino community projects across the country are worth the investment. With a dedicated management team and board of directors, our mission of financing local community organizations with a heart for serving low-income families has proven that, given the opportunity, they perform on their financial obligations,” said Tommy Espinoza, President & CEO of the Raza Development Fund.

Over the past 19 years, RDF has worked to break the cycle of poverty in low-income Latino communities across the country and is well positioned to expand its efforts. S&P stated, ‘With its national footprint, the Fund is positioned to respond to the needs of underserved communities, facilitate financing to projects, and provide technical assistance that aims at breaking the cycle of poverty in low-income communities across the country by working through community-based organizations.’ The agency continued in its report: ‘We believe RDF’s level of financial support is sufficient to warrant the ‘AA(-)’ rating, which in our view, reflects its overall asset quality, debt profile, liquidity, and sufficient equity to cover potential losses.

Raza Development Fund has a diverse product offering that allows it to provide a diversified community-lending model and provide capital financing to multiple aspects of community development, including education finance, affordable housing, and community health clinics and facilities.

The Fund has a diverse set of investors ranging from major money center banks to insurance companies and the Federal Financing Bank through the CDFI Fund. The Fund is also a member of the Federal Home Loan Bank of San Francisco. ‘This strong investment grade credit rating will allow the Fund to continue to attract different types of capital while demonstrating to institutional, fixed-income investors that CDFIs can deliver solid market returns and positive social impacts’ said Rodrigo Vela, Chief Financial Officer of the Fund.

About Raza Development Fund
Founded in 1999 as a support corporation to UnidosUS, RDF provides access to capital and financing solutions to non-profit UnidosUS affiliates and other Latino-serving organizations across the country with the mission of breaking the cycle of poverty in low-income communities across the country. The main sectors of the Fund are education finance, affordable housing, and community clinics. Since inception, RDF has originated over $675 million of community development loans in 34 states across the nation, leveraging over $3 billion of capital into low-income communities. Headquartered in Phoenix, Arizona, RDF lends nationwide and has offices in Seattle, Washington and Montclair, New Jersey. Contact: Tommy Espinoza, Raza Development Fund, President & CEO: 602-417-1415 rmarinez@razafund.org

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