New York State Dormitory Authority; Appropriations Feb 07
- ID: 1953018
- February 2007
- Region: New York
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' rating to New York State Dormitory Authority's mental health services facilities improvement revenue bonds, supported by New York State, reflecting: 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 reimbursement; and Strong project essentiality. The authority is issuing bonds to finance improvements to various state facilities and voluntary projects and to refinance certain outstanding bonds. The bonds are being issued under the 2003 resolution and financing agreement (between the authority and the New York State Department of Mental Hygiene), which does not require a debt service...
Companies mentioned in this report are:
- New York State
- New York State Dorm Auth
Action: New Rating
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Research Type: Full Analysis