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Summary: New York City Housing Development Corp.; Convertible Option Bonds; Multifamily Whole Loan; Other Oct 10 Product Image

Summary: New York City Housing Development Corp.; Convertible Option Bonds; Multifamily Whole Loan; Other Oct 10

  • Published: October 2010
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Rating Services assigned its 'AA' rating to New York City Housing Development Corp. (NYCHDC), N.Y.'s series 2010 G, I, and H multifamily housing revenue bonds. The series H issue does not have a liquidity facility and therefore no short-term rating was assigned. The outlook is stable. Standard & Poor's also affirmed its 'AA/A-1' ratings on the series 2008 A-1-A and H-2-A bonds. The affirmation anticipates a change in the ratings to 'AA' as each series is remarketed to a fixed-rate mode on Oct. 26, 2010. The new issues and the 2008 bonds are part of NYCHDC's large parity resolution, which serves as the basis for all of the ratings. In addition, all parity debt ratings are affirmed...

Companies mentioned in this report are:
- New York City Hsg Dev Corp

Action: Affirmed
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, READ MORE >

- New York City Hsg Dev Corp

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