Fitch Assigns a Pair of A+ Ratings, Stable Outlooks to Capital Impact Partners and Capital Impact Investment Notes
Independent rating recognizes Capital Impact for its financial performance and strong management.
March 13, 2023 (Arlington, VA) – Capital Impact Partners, a nonprofit corporation, certified by the U.S. Department of Treasury’s Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI), announced today that Fitch Ratings, one the world’s leading providers of independent credit ratings, has assigned an A+ rating with a stable outlook to both Capital Impact and the issuance of up to $275 million of its Capital Impact Investment Notes (Notes). The issuer rating was assigned on August 31, 2022 and the Notes rating was assigned on September 22, 2022.
“These ratings from Fitch are an endorsement of our strong financial performance, our proven track record with impact investing, and our Investment Notes program” said Natalie Gunn, chief financial officer of Capital Impact Partners. Capital Impact Partners is one of the Momentus Capital branded family of organizations, which also includes CDC Small Business Finance and Ventures Lending Technologies, among other organizations.
“We are one of just a select number of mission-driven financial institutions to receive ratings from multiple agencies, which is important as this is one of the tools used by corporate and philanthropic investors when evaluating investment decisions,” said Ellis Carr, president and CEO of Capital Impact Partners. “More important, these investments allow us to invest deeper into communities and provide the capital and resources they deserve.”
Fitch noted that its analysis of Capital Impact’s issuer rating was based on results of Capital Impact and CDC Small Business (CDC), a separate company that operates on a combined basis with Capital Impact as part of the Momentus Capital branded family of companies. Fitch also noted that its analysis of the Notes rating was based on results of Capital Impact and CDC representing the designated obligated group, although only Capital Impact is an obligor under the Notes. A Fitch credit rating is not a recommendation to buy, sell or hold Notes and may be subject to suspension, reduction or withdrawal at any time by Fitch.
In addition to the Fitch ratings, the Notes are A rated by S&P Global.1 The Notes allow retail and institutional investors to invest as little as $1,000 in the mission-driven organization’s efforts. Capital Impact Partners has invested more than $2.5 billion to serve 6 million people and created more than 38,000 jobs in sectors critical to building communities.
Capital Impact has seen robust interest in its Notes, which were the first DTC-settled notes offered by a CDFI on a continuous basis in almost all U.S. states.
For more information, visit the Capital Impact Investment Notes website.
- S&P Global reaffirmed a long-term issue credit rating of A to the Notes on May 17, 2022. Please check the Pricing Supplement for the S&P Global credit rating assigned to Notes currently being offered for sale. An S&P Global credit rating is not a recommendation to buy, sell or hold Notes and may be subject to suspension, reduction or withdrawal at any time by S&P Global. ↩︎
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Disclaimer
This press release is not an offer to sell or a solicitation of an offer to buy any securities. Such an offer is made only by means of a current Prospectus (including any applicable Pricing Supplement) for each of the respective Notes. Such offers may be directed only to investors in jurisdictions in which the Notes are eligible for sale. Investors in such states should obtain a current Prospectus by visiting capitalimpact.org/invest/capital-impact-investment-notes/. Investors are urged to review the current Prospectus before making any investment decisions. Past performance is no guarantee of future results. No state or federal securities regulators have passed on or endorsed the merits of the offering of the Notes. Any representation to the contrary is unlawful. The Notes are not insured or guaranteed by the FDIC, SIPC or other governmental agency. As of the date hereof, the Notes are offered for sale in all 50 states and the District of Columbia, excluding the States of Arkansas, and Washington.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Also, when Capital Impact uses any of the words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend” or similar expressions, it is making forward-looking statements. These forward-looking statements are not guaranteed and are based on Capital Impact’s present intentions and on Capital Impact’s present expectations and assumptions. These statements, intentions, expectations, and assumptions involve risks and uncertainties, some of which are beyond Capital Impact’s control, that could cause actual results or events to differ materially from those anticipated or projected. Purchasers of Notes should not place undue reliance on these forward-looking statements, as events described or implied in such statements may not occur. Except as required by law, Capital Impact undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.
About Capital Impact Partners
Capital Impact Partners, part of the Momentus Capital branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As one of the nation’s leading mission-driven Community Development Financial Institutions (CDFIs), we help build strong communities and create generational wealth by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.
Capital Impact Partners offers flexible financing for catalytic mission-aligned projects in four primary sectors: increasing access to health care, education, affordable housing, and healthy food.
In addition, we manage several multi-year initiatives in key regions to support emerging developers, small business owners, cooperatives, and community health enterprises through training, professional networks, access to experts and mentors, and pathways to grants and loan capital.
Capital Impact Partners has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact Partners’ leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch Ratings and recognized by Aeris for its performance.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
Learn more at capitalimpact.org and momentuscap.org.
About Momentus Capital
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital, and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, its clients now have access to more resources and products.
The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.
This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.
Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
Learn more at momentuscap.org.
About CDC Small Business Finance
CDC Small Business Finance, part of the Momentus Capital Branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As the nation’s leading mission-based small business lender, CDC Small Business Finance helps build strong communities and create generational wealth by deploying mission-driven financing and free business advising to the small businesses that are the backbone of their communities and the country.
CDC Small Business Finance delivers small business and commercial real estate loans paired with free technical assistance to bolster entrepreneurship, economic development, and job creation.
We offer numerous loan products, including the Small Business Administration (SBA) 504 commercial real estate loans, SBA Community Advantage loans, and SBA Microloans. In addition, we offer non-SBA products to provide alternative options for those unable to qualify for traditional financing. CDC Small Business Finance also offers free business advice to support potential borrowers in getting loan-ready and to help our current borrowers grow and expand their businesses.
Since 1978, CDC Small Business Finance has provided more than $21.3 billion in financing to 12,500 borrowers and helped create and preserve over 217,000 jobs.
The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, MSRB-registered, FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products
With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.
Learn more at cdcloans.com and momentuscap.org.
