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New York State Dormitory Authority/Upstate Community Colleges Bonds Rated 'BBB+' Mar 99 Product Image

New York State Dormitory Authority/Upstate Community Colleges Bonds Rated 'BBB+' Mar 99

  • Published: March 1999
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • New York State Dorm Auth
  • MORE

Abstract
NEW YORK (Standard & Poor's CreditWire) March 19, 1999--Standard & Poor's today assigned its triple-'B'-plus rating to New York State Dormitory Authority's $153.33 million revenue bonds series 1999, issued for New York's Upstate Community Colleges. The bonds are scheduled to sell March 24, 1999. Standard & Poor's also affirmed its triple-'B'-plus rating on the authority's outstanding series 1994A, 1995A, and 1997 revenue bonds, issued for the colleges. The rating reflects: -- The state's historical commitment to funding community college projects and operations; -- New York State's financial position single-'A' rated, and stable outlook); and -- Debt service payments subject to annual appropriation. Proceeds of bonds are sold to finance the state's (50%) share of $114 million of project costs on...

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

Action: New Rating

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- New York State Dorm Auth

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