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Buffalo State College Foundation Housing Corp., NY's Series 2011A-B Bonds Rated 'A+' On Strong System And State Support May 11
Standard & Poors, May 2011
Abstract
BOSTON (Standard & Poor's) May 17, 2011--Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Buffalo & Erie County Industrial Land Development Corp., N.Y.'s series 2011A (tax exempt) and 2011B (taxable) bonds issued for Buffalo State College Foundation Housing Corp. (BSCFHC). BSCFHC is a New York not-for-profit corporation organized for the purpose of the construction and rental of housing for Buffalo State College (BSC) of New York. The rating is primarily based on an agreement between the State University of New York (SUNY) and BSCFHC, which, in our opinion, is equivalent to a lease-vacancy agreement. Standard & Poor's understands the agreement provides for sufficient funds to allow BSCFHC to meet its debt service payments, capital reserves, and...
Companies mentioned in this report are: Buffalo State College Housing Corporation,State Univ Of New York,Buffalo & Erie County Industrial Land Dev Corp.
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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