CONTACT
Christopher Gil
Director of Strategic Communications and Influence
(415) 287-3197, cgil@liifund.org
FOR IMMEDIATE RELEASE
LIIF Maintains Top-Tier S&P and Aeris Ratings for Fiscal Year 2024
Consistently strong ratings underscore the organization’s status as a stable investment delivering high social impact
SAN FRANCISCO (July 11, 2025) — The Low Income Investment Fund (LIIF) today announced that both S&P Global Ratings and Aeris have reaffirmed the organization’s strong financial strength with top-tier ratings for fiscal year 2024 (FY24), which ended June 30, 2024. These positive assessments reflect LIIF’s continued leadership in deploying capital to historically underinvested communities across the nation, while affirming its reliability as a long-term investment partner.
S&P Global Ratings maintained its “A/Stable” rating for LIIF, highlighting the organization’s strong loan deployment — approximately $240 million in new loans during FY24, exceeding annual averages. The report recognized LIIF’s ability to flexibly deploy catalytic early-stage capital into affordable housing projects and community facilities.
S&P’s rating reflects multiple strengths, including:
- High-Performing Loan Portfolio. Characterized by minimal delinquencies despite targeting early-stage, higher-risk projects.
- Experienced Leadership. A proactive management team with clearly defined strategic goals and robust loan origination and monitoring systems.
In addition, LIIF received the highest possible rating from Aeris, the only third-party analyst dedicated to the CDFI industry. This marks more than 20 consecutive years of strong Aeris ratings, underscoring LIIF’s enduring financial health and mission effectiveness — even amid broader market uncertainties.
The Aeris assessment includes top ratings across three key areas:
- Impact Management Performance – Four Stars.
“LIIF demonstrates exceptional alignment between its mission, strategy, and operations. It effectively uses both on- and off-balance-sheet resources to achieve its goals. The organization collects and uses robust output and outcome data to inform and adjust its programs, consistently tracking progress toward impact objectives.” - Contribution to Public Policy – Yes.
“LIIF actively leads public policy initiatives that benefit the CDFI field and underserved communities. It has played a demonstrable leadership role in recent policy successes and continues to be a key voice in shaping equitable policy outcomes.” - Financial Strength and Performance Rating – AAA.
“LIIF maintains exceptional financial strength and risk management practices. Any existing weaknesses are minor and readily managed. The organization is well-positioned to withstand significant changes in the external operating environment.”
“Our dedicated Board and staff are very proud of these strong S&P and Aeris ratings, which reflect LIIF’s continued strength in delivering private capital to underserved communities across 32 states,” said Daniel A. Nissenbaum, Chief Executive Officer at LIIF. “Notwithstanding the difficult market environment over the past few years, LIIF has continued to deploy significant capital, achieve impact, deliver strong risk-adjusted returns for our stakeholders and will be well positioned for the future.”
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About the Low Income Investment Fund
Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles and Washington, D.C., that invests in communities of opportunity, equity and well-being. As a CDFI, LIIF supports projects that have high social value but lack access to traditional financial institutions. Since 1984, LIIF has deployed more than $3.8 billion to serve 2.6 million people in communities across the country from its five offices. An S&P-rated organization, LIIF funds healthy communities by providing innovative capital solutions.
liifund.org
Notwithstanding the difficult market environment over the past few years, LIIF has continued to deploy significant capital, achieve impact, deliver strong risk-adjusted returns for our stakeholders and will be well positioned for the future.
LIIF Chief Executive Officer Daniel A. Nissenbaum