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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

  • ID: 1953005
  • 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 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: Full Analysis

- Brooklyn Law Sch
- New York State Dorm Auth

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