Summary: New York State; Appropriation, Appropriations Jun 05

Standard & Poors, June 2005

Abstract
The 'A+' rating on New York State Dormitory Authority's school district revenue bond financing program revenue bonds series 2005A-C is based on statutory provisions provided by section 99-b of the New York State Local Finance Law. This statute allows for the withholding of state aid due to the school district if the district does not make timely debt service payments. Standard & Poor's Ratings Services has historically treated the statutory provision as a credit enhancement. If a school district has adequate state aid coverage of debt service, an 'A' rating can be achieved. The bonds issued by the dormitory authority on behalf of the districts are rated higher due to some added credit enhancement, including: An additional timing enhancement that...

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

Action: New Rating
Action: Outlook: Stable

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.

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

Customers who bought this item also bought

• The New York State Directory 2013/14 Edition
• The New York State Directory 2011/12 Edition
• Charter Schools - Global Outlook
• The Survey of Library Public Relations Practices
• The Survey of Assessment Practices in Higher Education, 2013 Edition
• College and Career Ready. Helping All Students Succeed Beyond High School
• Academic Library Cataloging Practices Benchmarks
• Government Investment Pools Report
• Making a Collection Count: A Holistic Approach to Library Collection Management
• The Survey of Library Database Licensing Practices, 2012 Edition