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New York State Dormitory Authority/New York City Rating Raised to A-;Outlook Stable Dec 99 Product Image

New York State Dormitory Authority/New York City Rating Raised to A-;Outlook Stable Dec 99

  • ID: 1953034
  • December 1999
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • New York State Dorm Auth
  • MORE

Abstract
NEW YORK (Standard & Poor's CreditWire) Dec 6, 1999Standard & Poor's today assigned its single-'A'-minus rating to New York State Dormitory Authority's $290 million court facilities lease revenue bonds series 1999 due May 15, 2039, issued for New York City. Standard & Poor's also raised its rating on the authority's $408.81 million court facilities lease revenue bonds series 1993, issued for the city, to single-'A'-minus from triple-'B'-plus. The outlook is stable. A Standard & Poor's rating in the single-'A' category reflects an issuer's strong ability to repay debt on time and in full. The rating reflects: -- Strong project essentiality at both the city and state levels highlighted by the state's operation of the court system and the city's statutory...

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

Action: Upgraded

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.

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- New York State Dorm Auth

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