YMCA Of Greater New York; Non-Profit Organizations

S&P Global Ratings assigned its 'A-' rating and stable outlook to YMCA of Greater New York's (YMCA) series 2020 taxable general obligation (GO) bonds and affirmed its 'A-' rating, with a stable outlook, on YMCA's series 2018 taxable GO bonds. At the same time, S&P Global Ratings affirmed its 'A-' rating, with a stable outlook, on Build NYC Resource Corp.'s series 2012 and 2015 revenue bonds, issued for the YMCA. The rating reflects our opinion of the YMCA's long history of strong relationships with New York City communities and consistent operating surpluses, diverse revenue base, and high-quality management team. In our opinion, the YMCA's modest financial resources and endowment for the rating category and ongoing capital needs somewhat offset these

...S&P Global Ratings assigned its 'A-' rating and stable outlook to YMCA of Greater New York's (YMCA) series 2020 taxable general obligation (GO) bonds and affirmed its 'A-' rating, with a stable outlook, on YMCA's series 2018 taxable GO bonds. At the same time, S&P Global Ratings affirmed its 'A-' rating, with a stable outlook, on Build NYC Resource Corp.'s series 2012 and 2015 revenue bonds, issued for the YMCA. The rating reflects our opinion of the YMCA's long history of strong relationships with New York City communities and consistent operating surpluses, diverse revenue base, and high-quality management team. In our opinion, the YMCA's modest financial resources and endowment for the rating category and ongoing capital needs somewhat offset these strengths. The rating also reflects our view of the YMCA's: + Established brand with strong community ties and diverse programmatic offerings; + History of full-accrual operating surpluses, coupled with a projected surplus for fiscal 2019;...

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