Summary: New York City Transitional Finance Authority; Miscellaneous Tax Aug 10
- ID: 1857767
- August 2010
- Region: New York
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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