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Summary: New York City Transitional Finance Authority, New York; Miscellaneous Tax May 10 Product Image

Summary: New York City Transitional Finance Authority, New York; Miscellaneous Tax May 10

  • Published: May 2010
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating to New York City Transitional Finance Authority, N.Y.'s (TFA) fiscal 2010 subseries G-1, G-2, G-3, G-4, H, I-1, and I-2 taxable and tax-exempt subordinate bonds. In addition, Standard & Poor's affirmed its ratings on TFA's approximately $6.0 billion of senior bonds, $6.5 billion of subordinate bonds, and $1.4 billion of recovery obligations. In addition to issuing these fixed rate bonds, the authority expects to issue approximately $150 million future tax-secured tax-exempt adjustable rate subordinate bonds subseries G-5, G-6 pursuant to a separate offering circular. Credit factors supporting the bond program include the following: The legal structure is strong, in our view, and separates the revenue stream supporting the bonds from both...

Companies mentioned in this report are:
- New York City Transitional Fin Auth

Action: Affirmed
Action: New Rating

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- New York City Transitional Fin Auth

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