S&P Global Ratings long-term rating on New York City Housing Development Corp.'s (NYCHDC, or the corporation) multifamily housing revenue bonds (Federal New Issue Bond Program [NIBP]) 2009 series 2-5 bonds is 'AA+'. The outlook is stable. The NIBP 2009-2 bonds were issued under the NIBP Series 2 Resolution, dated Dec. 3, 2009. The NIBP bonds are special obligations of NYCHDC, payable first from the revenues available under the NIBP 2009-2 resolution, second with amounts withdrawn from the debt service reserve fund held under the NIBP 2009-2 resolution and third, and only to the extent necessary to make sufficient and timely payment on the NIBP bonds, amounts on deposit in the revenue account under the corporation's open resolution. For more information
