OREANDA-NEWS. S&P Global Ratings raised its rating on Impact CIL Parent LLC, Calif.'s revolving notes, series 2003-1, to 'BBB' from 'BBB-'. The outlook is stable.

"We base the rating on our view of the credit quality of the notes that evidence a loan issued to the borrower, Impact CIL Parent LLC, by a consortium of insurance companies pursuant to a revolving member loan agreement," said S&P Global Ratings credit analyst Raymond Kim.

The upgrade reflects the following factors:

Good debt service coverage (DSC) of the underlying multifamily mortgage loan pool with DSC of 1.44x on a pool of 45 loans in 21 states;High asset quality of collateral in the form of the mortgage loan pool, cash, investments, and 'AAA' as well as 'AA' rated tranches of prior securitizations, which results in excess assets of about $5.07 million that are rated 'BBB' or higher;The strong strategy and management provided by Impact Community Capital LLC, an experienced lender for Low Income Housing Tax Credit multifamily properties.