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

Standard&Poor's Ratings Services assigned its 'A-' rating to Build NYC Resource Corp.'s series 2015 revenue bonds issued for the YMCA of Greater New York (the Y). Concurrently, we affirmed our 'A-' rating on the Y's existing debt. 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. The rating further reflects our view of the Y's: Long operating history

...Standard & Poor's Ratings Services assigned its 'A-' rating to Build NYC Resource Corp.'s series 2015 revenue bonds issued for the YMCA of Greater New York (the Y). Concurrently, we affirmed our 'A-' rating on the Y's existing debt. 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. The rating further reflects our view of the Y's:...

Full Report