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New York State Dormitory Authority Brooklyn Law School; Private Coll/Univ - General Obligation Jun 09 Product Image

New York State Dormitory Authority Brooklyn Law School; Private Coll/Univ - General Obligation Jun 09

  • Published: June 2009
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • Brooklyn Law Sch
  • New York State Dorm Auth
  • MORE

Abstract
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. Standard & Poor's also affirmed its 'BBB+' underlying rating (SPUR) on New York State Dormitory Authority's series 2003A and 2003B revenue bonds. The ratings reflect: 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 debt; and Unique location and provision for housing to first year students and some faculty. Offsetting credit factors include: High pro forma maximum annual debt service burden of 9.7%; Weak fund-raising history;...

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

Action: New Rating

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 READ MORE >

- Brooklyn Law Sch
- New York State Dorm Auth

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