Standard & Poor's Ratings Services affirmed its 'AAA/A-1' rating on New York State Dormitory Authority's (St. John's University) education variable-rate demand obligation bonds series 2008 B-1 and 2008B-2, due to the bank facility being extended to Sept. 24, 2014. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, St John's University, and the letter of credit provider, Bank of America N.A. The short-term component of the rating is based solely on the rating on Bank of America N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009 USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009...
Companies mentioned in this report are:
- St. John's Univ
- Dorm Auth of the St of New York
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