Summary: New York City Housing Development Corp.; Convertible Option Bonds; Multifamily Whole Loan; Other Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to New York City Housing Development Corp.'s (NYCHDC) multifamily housing revenue bonds series 2011D, 2011E, 2011F-1, and 2010L-2-B, and its 'AA/NR' rating to the corp.'s series 2011F-2 and 2011F-3. At the same time, Standard & Poor's affirmed all of its other ratings on the parity resolution, including its 'A-1+' short-term rating, with a not meaningful outlook, on the series 2009H-2 bonds, which are being remarketed as variable-rate obligations in a term-rate period. The long-term ratings reflect the strength of the resolution. The short-term rating on the series 2009H-2 bonds reflects sufficient excesses under the parity resolution to pay debt service when due. The outlook on the multifamily housing revenue bond...

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

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

- New York City Hsg Dev Corp

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