- Language: English
- Published: December 2011
- Region: New York
Summary: New York City Housing Development Corp.; Convertible Option Bonds; Multifamily Whole Loan; Other Apr 11
- ID: 1718086
- April 2011
- Region: New York
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA' long-term rating, with a stable outlook, to New York City Housing Development Corp.'s (NYCHDC) multifamily housing revenue bonds series 2011 B, 2011 series C, and 2010 series L-2-A. At the same time, Standard & Poor's affirmed all of its current ratings on the parity resolution including its 'A-1+' ratings on NYCHDC's 2010 series L-1 (currently in a variable-rate term), reflecting the anticipated remarketing of the series into fixed-rate obligations, and its 2010 series L-2 (currently in a variable-rate term), reflecting the partial remarketing as the 2010 series L-2 into fixed-rate obligations. The ratings reflect our view of NYCHDC's: Very strong credit quality of the mortgage loan portfolio; Strong coverage of credit shortfalls...
Companies mentioned in this report are:
- New York City Hsg Dev Corp
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >