Standard&Poor's Ratings Services affirmed its 'A' long-term and underlying rating, and stable outlook, on Hudson Yards Infrastructure Corp. (HYIC), N.Y.'s fiscal 2012 series A and fiscal 2007 series A senior revenue bonds. The rating is based on our assessment of the following credit factors: The multiple revenue streams pledged for repayment, both before and after the conversion date, which include recurring and nonrecurring HYIC revenue for principal and interest to the extent that it is sufficient, and the city's appropriation pledge for interest support payments to the extent that pledged revenues are insufficient; The city's overall commitment to the project including not only its interest support payment pledge, but also its assignment and appropriation of the pledged revenues
