NEW YORK (S&P Global Ratings) Oct. 7, 2021--S&P Global Ratings raised its underlying rating to 'AA-' from 'A+' on Hudson Yards Infrastructure Corp. (HYIC), N.Y.'s fiscal 2017 series A (tax-exempt) and B (taxable) second-indenture revenue bonds. At the same time, we assigned our 'AA-' long-term rating to HYIC's approximately $452 million fiscal 2022 series A revenue bonds. Finally, we affirmed our 'AA-' underlying rating on HYIC's fiscal 2012 series A bonds outstanding, which we expect the fiscal 2022 series A bond proceeds to defease. The outlook is positive. "The rating action reflects our view of the progress and ongoing development within Hudson Yards, which has reduced the reliance on city-appropriated revenue and support for payment of debt service on HYIC's
