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
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