S&P Rts NY St Dorm Auth/NY St Mntl Hlth Fac Bnds A- Mar 98
- ID: 1953219
- March 1998
- Region: New York
- Standard & Poors
NY -- Standard & Poor's CreditWire 3/4/98 –- Standard & Poor's today assigned its single-'A'-minus rating to the New York State Dormitory Authority's $172 million mental health services facilities improvement revenue bonds series 1998A-C dated March 1, 1998 due Feb. 15, 2028, issued for New York State. The bonds are scheduled to sell March 13, 1998. The rating reflects the state's: -- General creditworthiness (single-'A' G.O. rating); -- Substantial funds allocated by New York State statute for debt repayment, including federal Medicaid reimbursement; and -- Strong project essentiality and the security provided by a master financing agreement adopted in 1996 which cover both state projects and voluntary agency projects. On Sept. 1, 1995, the dormitory authority assumed all obligations and...
Companies mentioned in this report are:
- Dorm Auth of the St of New York
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: 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.