State University of New York's Series 2005A Bonds Rated 'AA-'; Outlook Stable Mar 05

Standard & Poors, March 2005

Abstract
NEW YORK (Standard & Poor's) March 15, 2005--Standard & Poor's Ratings Services said it assigned its 'AA-' rating to the New York State Dormitory Authority's $74.7 million lease-revenue bonds, series 2005A, issued for the State University of New York (SUNY). In addition, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) and standard long-term rating on the authority's outstanding lease-revenue debt, also issued for SUNY. The outlook is stable. The rating reflects SUNY's GO pledge, which is supported by the large, comprehensive nature of the system and the improving demand for academic programs; an increasingly diverse base of revenues, including growing research revenues, grants, and contracts; and a level of operating appropriations per student ($10,000 per student, based on headcount...

Companies mentioned in this report are:
- State Univ Of New York
- 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.

- State Univ Of New York
- New York State Dorm Auth

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