Summary: New York City Housing Development Corp.; Multifamily Whole Loan

S&P Global Ratings assigned its 'AA+' long-term rating to New York City Housing Development Corp.'s (NYCHDC) 2024 series A-1 and A-2 (tax-exempt, fixed-rate) multifamily housing revenue sustainable development bonds, with a combined par amount of approximately $323.3 million, issued under the open resolution. At the same time, we affirmed our 'AA+' long-term rating, and 'AA+/A-1+' and 'AA+/A-1' dual ratings on the various bonds outstanding under the open resolution. The outlook, where applicable, is stable. The 2024 series A-1 and A-2 (together the 2024A) tax-exempt bonds being issued under the open resolution will have fixed interest rates payable on each May 1 and Nov. 1, commencing Nov. 1, 2024, and are subject to mandatory tender at the option of NYCHDC and

...Legal framework No cap Program management and operational risk No cap Overcollateralization ### Cash flow analysis - Stressed cash flow cap ##+ Hedging risk No cap HFA general obligation pledge N/A Anchor Anchor rating ##+ Modifiers and holistic analysis Liquidity reserves No modifier Market position No modifier Holistic analysis No modifier Stand-alone credit profile (SACP) SACP ##+ Other applicable criteria No cap Final Final rating ##+ HFA--Housing finance agency. N/A--Not applicable. WWW.STANDARDANDPOORS.COM/RATINGSXPRESS MARCH 28, 2024 4...

Summary