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Summary: New York State; Appropriation, Appropriations Mar 05 Product Image

Summary: New York State; Appropriation, Appropriations Mar 05

  • Published: March 2005
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • New York State
  • New York State Dorm Auth
  • MORE

Abstract
The 'AAA' long-term component rating on New York State Dormitory Authority's upstate community colleges revenue bonds series 2005C is based on a municipal bond insurance policy provided by CIFG Assurance North America Inc. (rated 'AAA'). The 'A-1+' short-term component rating on the bonds is based on an SBPA provided by Depfa Bank (rated 'A-1+'). The 'AA-' Standard & Poor's underlying rating (SPUR) on the bonds reflects: Debt service payments subject to annual state appropriation; New York State's historical commitment to funding the operating and capital requirements of the community college system; The underlying creditworthiness of New York State ('AA' GO debt rating); and The state's demonstrated commitment, within both the administration and legislature, to repaying appropriation-backed bond obligations. The bonds...

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

Action: New Rating
Action: Outlook: Stable

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- New York State
- New York State Dorm Auth

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