Financials (The Bottom Line

The Bottom Line

Operating Income Remains Strong

Energy Efficiency Loan Update

Alaska Housing continued to demonstrate a strong financial position in Fiscal Year 2022 with a net operating income of $2.23 million and a total net position of $1.6 billion as of June 30, 2022.

The value of Alaska Housing’s mortgage loan portfolio stood at $2.99 billion, while its bond portfolio that is used to finance the mortgage loans was $2.19 billion in FY 2022.

The Energy Efficiency Revolving Loan was created in 2010 by the Alaska Legislature when it passed Senate Bill 220. The Bill allows AHFC to go to Wall Street and bond for up to $250 million, providing financing for permanent energy efficient building improvements owned by regional educational attendance areas, University of Alaska, the state, or municipalities. Savings from improvements are used to repay the loan. No activity reported during FY22.

Alaska Housing Bond Issuance

AHFC issued $322.8 million in Fiscal Year 2022. That included:

• $122.8 million in General Mortgage Revenue Bonds II, Series A and B issued on January 12, 2022

• $200 million in State Capital Project Bonds II, 2022 Series A issued on June 1, 2022

Alaska Housing’s economic strategy is to redeem debt when it is beneficial to do so, much like a homeowner might refinance their loan to benefit from lower-cost debt. AHFC had $392.28 million in bond redemptions in Fiscal Year 2022.

In Good Standing with Wall Street

Alaska housing general obligation credit ratings remained strong in Fiscal Year 2022. In May 2022, S&P Global Ratings reaffirmed the AA+ issuer rating of the Corporation, based on several factors including:

• Very strong capital adequacy analysis

• Very large balance sheet

• Extremely strong financial position

• Extremely strong management and legislative mandate assessment

Learn More About Our Financials

More information about Alaska Housing’s Fiscal Year 2022 financial information, as well as previous years, is available on our website.

Headquarters | 4300 Boniface Parkway | Anchorage, AK 99504 | 907-338-6100 | 800-478-2432 Mailing Address | P.O. Box 101020 | Anchorage, AK 99510-1020 | ahfc.us