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Summary: New York State Environmental Facilities Corp. New York City Municipal Water Finance Authority; State Revolving Funds/Pools May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating, and stable outlook, to the New York State Environmental Facilities Corp.'s (EFC) series 2011B state clean water and drinking water revolving fund revenue bonds (second-resolution bonds), issued for the New York City Municipal Water Finance Authority (NYCMWFA). At the same time, Standard & Poor's affirmed its 'AA+' long-term rating on debt previously issued by the EFC for NYCMWFA. The series 2011B are subordinate obligations of EFC, issued for the authority. NYCMWFA provides second-resolution bonds (AA+/Stable), which are subordinate to the authority's general resolution bonds, to EFC as security on the 2011B bonds. The 'AA+' rating reflects our assessment of: The strength of NYCMWFA's subordinate-lien water and sewer system revenue...
Companies mentioned in this report are: New York City Mun Wtr Fin Auth,New York St Envir Facs Corp
Action: New Rating
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
New York City Mun Wtr Fin Auth,New York St Envir Facs Corp