New York City Housing Development Corp. Series 2018 L Multifamily Bonds Rated ?AA+/A-1?

SAN FRANCISCO (S&P Global Ratings) Dec. 11, 2023--S&P Global Ratings assigned its 'AA+/A-1' dual rating to the New York City Housing Development Corp.'s (NYCHDC) multifamily housing revenue bonds 2018 series L (variable rate; sustainable development bonds), which have an expected par amount of $116 million. The outlook, where applicable, is stable. Bonds issued within the open resolution, including the 2018 series L-1 bonds, are special obligations of the corporation, payable solely from the revenues, assets, and money pledged under the resolution on a parity basis with all other senior obligations outstanding under the resolution. "The rating action reflects the Dec. 14, 2023, remarketing of the bonds following the conversion of the interest rate mode to the weekly rate from the

...December 11, 2023 SAN FRANCISCO (S&P Global Ratings) Dec. 11, 2023--S&P Global Ratings assigned its '##+/A-1' dual rating to the New York City Housing Development Corp.'s (NYCHDC) multifamily housing revenue bonds 2018 series L (variable rate; sustainable development bonds), which have an expected par amount of $116 million. The outlook, where applicable, is stable. Bonds issued within the open resolution, including the 2018 series L-1 bonds, are special obligations of the corporation, payable solely from the revenues, assets, and money pledged under the resolution on a parity basis with all other senior obligations outstanding under the resolution. "The rating action reflects the Dec. 14, 2023, remarketing of the bonds following the conversion of the interest rate mode to the weekly rate from the fixed rate and the addition of liquidity enhancement in the form of a standby letter of credit from Sumitomo Mitsui Banking Corp., acting through its New York Branch," said S&P Global Ratings...

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