Summary: New York City Industrial Development Agency, New York USTA National Tennis Center Inc.; Joint Criteria; Non-recourse proj, single or multi tenants, entert Apr 11
Standard & Poors, April 2011
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.
Abstract
Standard & Poor's Ratings Services affirmed its 'A' underlying rating (SPUR) on bonds issued on behalf of the USTA National Tennis Center Inc. (NTC), N.Y. The series 2009 bonds were issued by NTC; all other bonds outstanding were issued by the New York City Industrial Development Agency (NYCIDA). In addition, Standard & Poor's affirmed its 'AAA' long-term rating on certain bonds based the application of joint criteria. The outlook is stable. The NTC operates and maintains the USTA Billie Jean King National Tennis Center, located in Flushing Meadows-Corona Park in Queens, N.Y. The NTC's sole member is the United States Tennis Association Inc. (USTA), which owns the exclusive rights the U.S. Open tennis tournament. In our view, the 'A' SPUR...
Companies mentioned in this report are: USTA Natl Tennis Ctr Inc,New York City Indl Dev Agy
Action: Affirmed
Action: Outlook: Stable
USTA Natl Tennis Ctr Inc,New York City Indl Dev Agy
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