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

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

  • ID: 1857767
  • August 2010
  • Region: New York
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to New York City Transitional Finance Authority's (TFA) fiscal 2011 subseries A-1, A-2, A-3, and A-4 subordinate bonds. In conjunction with the issuance of these bonds, Standard & Poor's affirmed its 'AAA' ratings, with a stable outlook, on the authority's approximately $6.0 billion of senior bonds, $6.5 billion of subordinate bonds, and $1.4 billion of recovery obligations. Credit factors supporting the bond program include: TFA's legal structure is strong, separating the revenue stream supporting the bonds from New York City and New York State. New York City has a substantial and diverse economic base that supports pledged revenues with a resident population base of more than eight million...

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

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- New York City Transitional Fin Auth

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