National CORE Maintains A+ Credit Rating for Fourth Consecutive Year

RANCHO CUCAMONGA, Calif., Oct. 27, 2026 /CourierPR/ -- National CORE, a nonprofit affordable housing developer founded in 1992, has maintained its A+ credit rating for a fourth consecutive year, according to a recent announcement from Standard & Poor's Global Ratings (S&P). The rating, which speaks to the organization's financial and operational strengths, underscores National CORE's commitment to delivering high-quality affordable housing.

The S&P rating highlights several key financial strengths of National CORE. The organization boasts very strong management and governance, with stable leadership and a three-year strategic plan. Revenue growth has outpaced expenses, doubling the company's EBITDA year over year. Operating margins have exceeded 20%, and the organization is expanding its fee-managed portfolio, which is expected to top 14,000 apartments by 2028. This growth is part of National CORE's broader strategy to diversify its funding and business operations.

National CORE's portfolio is geographically diverse, with properties spread across California, Texas, and Florida. By the end of 2026, the organization's portfolio will exceed 11,000 apartment homes at more than 114 properties. Additionally, the company's property management enterprise manages over 6,000 apartment homes at more than 100 properties for third-party operators of affordable housing. This diversification helps reduce exposure to operating volatility and creates additional sources of income to support the organization's mission.

In 2021, National CORE became the second nonprofit affordable housing developer in the nation to secure an A+ credit rating from S&P. The following year, the organization issued $100 million in social bonds, opening access to a new source of capital for housing acquisition, development, and rehabilitation. This move aligns with National CORE's broader strategy to support communities by creating beautiful, high-quality affordable housing.

National CORE's mission is to support communities by delivering affordable housing and promoting economic mobility. The organization created the Hope through Housing Foundation in 1998 to provide resident services that promote educational attainment, economic mobility, and overall well-being. Serving more than 25,000 residents, National CORE strives to be a launching pad, not a landing pad, for families struggling financially.

The organization's strong liquidity and financial flexibility position it well to continue investing in affordable housing at a time of significant national need.

In summary, National CORE's A+ credit rating reflects the organization's financial strength and commitment to delivering high-quality affordable housing. With a diverse portfolio and a robust strategy for growth, National CORE is well-positioned to continue making a significant impact on communities across the nation.