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New York City Housing Development Corp. Series 2004A Class I Bonds Rating Outlook Revised To Stable On Decrease In DSC Dec 11 Product Image

New York City Housing Development Corp. Series 2004A Class I Bonds Rating Outlook Revised To Stable On Decrease In DSC Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Dec. 8, 2011--Standard & Poor's Ratings Services affirmed its 'AA- (sf)' and 'A (sf) ratings on New York City Housing Development Corp.'s military housing revenue bonds series 2004A class I and class II, respectively, issued on behalf of the Fort Hamilton Housing LLC Project. The outlook on the class I bonds has been revised to stable from positive. The outlook on the class II bonds remains stable. The ratings reflect our view of the following credit strengths: A very strong debt service coverage ratio (DSCR) of 1.66x on the class I bonds and strong DSCR of 1.33x on the class II bonds in fiscal year 2010, based on net operating income; Moderate military essentiality of...

Companies mentioned in this report are: New York City Hsg Dev Corp
Action: Affirmed
Action: Outlook: Stable

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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