Posted Sep 28, 2011, 1:28 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,965
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http://www.marketwatch.com/story/fit...ble-2011-09-27
Fitch Rates Hudson Yards Infrastructure Corp. (NY) Senior Revs 'A'; Outlook Stable
September 27, 2011
Quote:
Fitch Ratings has assigned a rating of 'A' to the following Hudson Yards Infrastructure Corporation's (HYIC or the corporation) senior revenue bonds: --$1 billion, fiscal 2012, series A.
The bonds will be offered through negotiation and are expected to be delivered on or about Oct. 19, 2011. Proceeds will finance a portion of the costs of various projects undertaken to support future development of the Hudson Yards financing district, an approximate 45-square-block area in west central Manhattan. Proceeds from the sale will fund the design and construction of an extension of the No. 7 subway line, the construction of a system of parks, public open spaces and streets in the project area, and certain property acquisition.
The bonds are ultimately secured by revenues expected to be generated from development in the Hudson Yards area of Manhattan. The project area is a roughly 45-square-block area from West 43rd Street, 7th & 8th Avenues, to 30th Street, 11th & 12th Avenues.
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