New York City Educational Construction Fund Revenue Bonds Assigned 'AA-' Rating On Criteria Application; Outlook Stable

NEW YORK (S&P Global Ratings) Oct. 5, 2018--S&P Global Ratings assigned its 'AA-' long-term rating, and stable outlook, to New York City Educational Construction Fund's (ECF) $40.7 million revenue bonds. In addition, S&P Global Ratings affirmed its 'AA-' rating, with a stable outlook, on ECF's approximately $231.2 million parity debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions. The ratings are based on the application of S&P Global Ratings "Issue Credit Ratings Linked To U.S. Public Finance Obligor?s Creditworthiness" criteria, published Jan. 22, 2018 on RatingsDirect. As part of our assignment of the long-term rating to ECF, we also reviewed and affirmed

...NEW YORK (S&P Global Ratings) Oct. 5, 2018--S&P Global Ratings assigned its '##-' long-term rating, and stable outlook, to New York City Educational Construction Fund's (ECF) $40.7 million revenue bonds. In addition, S&P Global Ratings affirmed its '##-' rating, with a stable outlook, on ECF's approximately $231.2 million parity debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions. The ratings are based on the application of S&P Global Ratings "Issue Credit Ratings Linked To U.S. Public Finance Obligor's Creditworthiness" criteria, published Jan. 22, 2018 on RatingsDirect. As part of our assignment of the long-term rating to ECF, we also reviewed and affirmed our '##' long-term rating on the city's GO debt and other ratings linked to the obligor's creditworthiness, including the city's Dormitory Authority of the State of New York lease revenue bonds...

Ratings Action