Build NYC Resource Corp., New York YMCA Of Greater New York; Non-Profit Organizations

S&P Global Ratings affirmed its 'A-' rating on Build NYC Resource Corp.'s revenue bonds issued for the YMCA of Greater New York (the Y). The outlook is stable. The rating reflects our opinion of the Y's long history of providing programs and services in New York City with numerous facilities across the city, consistently positive operating results on a generally accepted accounting principles (GAAP) basis, diverse revenue base, and high-quality management team. These strengths are partially offset by the Y's modest financial resources and endowment for the rating category, and ongoing capital needs. There are a number of significant projects that management is assessing at this time but there are no board approvals at this time – we believe if

...S&P Global Ratings affirmed its 'A-' rating on Build NYC Resource Corp.'s revenue bonds issued for the YMCA of Greater New York (the Y). The outlook is stable. The rating reflects our opinion of the Y's long history of providing programs and services in New York City with numerous facilities across the city, consistently positive operating results on a generally accepted accounting principles (GAAP) basis, diverse revenue base, and high-quality management team. These strengths are partially offset by the Y's modest financial resources and endowment for the rating category, and ongoing capital needs. There are a number of significant projects that management is assessing at this time but there are no board approvals at this time ¡ we believe if these projects move forward there is potential for additional debt. However, we are not able to fully factor in such an impact given the ultimate size and timing of a borrowing is unknown. The rating further reflects our view of the Y's:...

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