Summary: Dormitory Authority Of The State Of New York Oneida, Herkimer, and Madison Board of Cooperative Educational Services; Appropriations Jul 08

Standard & Poors, July 2008

Abstract
Standard & Poor's Ratings Services assigned its 'A+' rating and stable outlook to Dormitory Authority of the State of New York, N.Y.'s series 2008 master BOCES program lease revenue bonds, issued on behalf of the Oneida, Herkimer, and Madison (OHM) Board of Cooperative Educational Services (BOCES). The bonds have the same credit structure as numerous other lease revenue bonds issued on behalf of other BOCES in the state. New York State Dormitory Authority's lease revenue bonds are secured by a general obligation (GO) pledge of the OHM BOCES, with additional credit enhancement based on the state comptroller's statutory authority to intercept state aid payments due BOCES. The rating reflects: The statutory intercept of state aid payments by the New York...

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

Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- New York State Dorm Auth

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