Standard&Poor's Ratings Services assigned its 'A/A-1' rating to New York State Housing Finance Agency's (New York State) series 2013A-2 and A-3 housing revenue bonds, issued for the Riverside Center 2 project. The 'A' long-term component of the rating is based on an irrevocable direct-pay letter of credit (LOC) provided by Bank of America N.A. (A) and reflects our opinion of the likelihood that bondholders will receive interest and principal payments when due if they do not exercise their put option. The 'A-1' short-term component of the rating is based on the short-term rating on Bank of America N.A. (A-1) and reflects our opinion of the likelihood that bondholders will receive interest and principal payments if they do exercise
