YMCA of Greater New York's Series 2018 Taxable Bonds Assigned 'A-' Rating

SAN FRANCISCO (S&P Global Ratings) Sept. 26, 2018--S&P Global Ratings assigned its 'A-' rating to YMCA of Greater New York's (the Y) series 2018 taxable bonds. At the same time, S&P Global Ratings affirmed its 'A-' rating on Build NYC Resource Corp.'s revenue bonds, issued for the Y. The outlook is stable. The series 2018 bond proceeds will help finance the construction of the Y's Northeast Bronx project (approximately $15 million), refinance a $20 million short-term loan from JP Morgan used for the construction of its La Central project, and fund an internal central bank for various internal capital projects (approximately $15 million), with the remainder funding capitalized interest and other transaction costs. "The rating reflects our opinion of the

...SAN FRANCISCO (S&P Global Ratings) Sept. 26, 2018--S&P Global Ratings assigned its 'A-' rating to YMCA of Greater New York's (the Y) series 2018 taxable bonds. At the same time, S&P Global Ratings affirmed its 'A-' rating on Build NYC Resource Corp.'s revenue bonds, issued for the Y. The outlook is stable. The series 2018 bond proceeds will help finance the construction of the Y's Northeast Bronx project (approximately $15 million), refinance a $20 million short-term loan from JP Morgan used for the construction of its La Central project, and fund an internal central bank for various internal capital projects (approximately $15 million), with the remainder funding capitalized interest and other transaction costs. "The rating reflects our opinion of the Y's provision of programs and services in New York City, with numerous facilities, consistently positive operating results on a generally accepted accounting principles basis, diverse revenue base, and high-quality management team," said...

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