New York City Transitional Finance Authority; Miscellaneous Tax Aug 10
Standard & Poors, August 2010
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: 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
- New York City Transitional Fin Auth
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