New York State Thruway Authority; Gas Tax Jun 11

  • ID: 1815226
  • June 2011
  • Region: New York
  • Standard & Poors
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  • New York St Thruway Auth
  • New York State
  • MORE

Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York State Thruway Authority's second general highway and bridge trust fund bonds, series 2011A. At the same time, Standard & Poor's affirmed its 'AA' rating, with a stable outlook, on parity bonds outstanding. The bonds are secured by a second lien on dedicated gas tax trust funds. New York State intends to add the federal interest subsidy on Build America bonds as a pledged revenue. The rating reflects what we view as: The diverse nature of the state's economy containing 19.5 million people; New York State's history of periodically increasing taxes flowing into the pledged funds; Strong 2.24x historical coverage of debt service by fiscal...

Companies mentioned in this report are:
- New York State
- New York St Thruway Auth

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.

Research Type: Full Analysis

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- New York State
- New York St Thruway Auth

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