Summary: New York State Dormitory Authority; Appropriations Nov 08

Standard & Poors, November 2008

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to New York State Dormitory Authority's series 2008F and 2008G mental health services facilities improvement revenue bonds, supported by the State of New York (AA/Stable general obligation [GO] debt) . The rating reflects our view of the state's: Strong legislative history of support for appropriation-backed debt; Security provided by financing agreements that cover both state projects and voluntary agency projects; Substantial funds allocated by statute for debt repayment, including federal Medicaid reimbursement; and Strong project essentiality. The authority is issuing the series 2008F bonds to refund certain bonds it previously issued for state facilities. The series 2008G bonds will refund certain voluntary agency facility bonds the authority...

Companies mentioned in this report are:
- New York State
- New York State Dorm Auth

Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- New York State
- New York State Dorm Auth

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