S&P Global Ratings assigned its ‘BB-‘ long-term rating to the Build NYC Resource Corp.'s approximately $44.1 million tax-exempt series 2026A revenue bonds and approximately $775,000 taxable series 2026B revenue bonds, issued for Brooklyn Prospect Charter School (BPCS), New York. At the same time, we assigned our ‘BB-’ issuer credit rating (ICR) to BPCS. The outlook on all ratings is positive. An ICR reflects an obligor's general creditworthiness, focusing on its capacity and willingness to meet financial commitments in a timely manner. It does not apply to any specific financial obligation because it does not consider the obligation's nature and provision, standing in bankruptcy, liquidation, statutory preferences, or legality and enforceability. Pro forma lease-adjusted debt is approximated at $395 million, consisting
