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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

  • ID: 1929696
  • October 2010
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Rating Services withdrew the 'A-1' short-term component of its ratings on New York City Housing Development Corp.'s (NYCHDC) multifamily housing revenue bonds series 2008A-1-A and series 2008H-2-A, indicating that each series of bonds is being remarketed to a fixed-rate mode on Oct. 26, 2010. The long-term component of the ratings remains at 'AA'. The bonds are part of the corporation's large parity resolution, which serves as the basis for all of the ratings issued. In addition, all parity debt ratings are affirmed at 'AA'. The ratings reflect our view of NYCHDC's: Very strong credit quality of the mortgage loan portfolio; Strong coverage of credit shortfalls through excess assets within the parity resolution; Investments maturing when needed and...

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

Action: Affirmed
Action: Withdrawn

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