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Brooklyn Law School, NY's Series 2009 Bonds Rated 'BBB+' On Strong Demand And Financial Performance Jul 09
Standard & Poors, July 2009
Abstract
BOSTON (Standard & Poor's) July 6, 2009--Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating to New York State Dormitory Authority's series 2009 revenue bonds, issued for Brooklyn Law School. The underlying ratings (SPURs) on the authority's series 2003A and 2003B revenue bonds are affirmed. The series 2003A bonds were insured by Radian Asset Assurance Inc. The series 2003B bonds are additionally insured by Syncora Guarantee Inc. The rating outlook on the revenue bonds is stable. The rating reflects the school's solid demand trends and improved student quality; good fiscal management, evidenced by history of strong operating surpluses; adequate financial resources levels with fiscal 2008 unrestricted resources of $74 million and 111% of operations and 87% of pro forma...
Companies mentioned in this report are: Brooklyn Law Sch,New York State Dorm Auth
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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