Summary: New York State Dormitory Authority; Appropriations Feb 10

Standard & Poors, February 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to New York State Dormitory Authority's series 2010A mental health services facilities improvement revenue bonds, supported by New York State ('AA' general obligation [GO] rating). The rating reflects our opinion of: The general credit profile of New York State; Pledged funds subject to legislative appropriation and a strong legislative history of support for appropriation-backed debt; The security provided by financing agreements that cover both state projects and voluntary agency projects; Substantial funds allocated by statute for debt repayment, including federal Medicaid reimbursements; and Strong project essentiality. We understand that the authority is issuing the series 2010A bonds to refund mental health services bonds outstanding. The 2010A series...

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

Action: New Rating
Action: Outlook: Stable

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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

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