Summary: New York State Dormitory Authority RBS Citizens N.A. LOC-Backed Rating Lowered To 'A-/A-2'; Private Coll/Univ - General Obligation May 09

Standard & Poors, May 2009

Abstract
Standard & Poor's Ratings Services lowered its rating on New York State Dormitory Authority (Long Island University) RBS Citizens N.A. letter of credit (LOC)-backed revenue bonds series 2006 A-2 to 'A-/A-2' from 'AA-/A-1+'. This action follows Standard & Poor's downgrade of RBS Citizens N.A. to 'A-/A-2'. USPF Criteria: "LOC-Backed Municipal Debt," July 2, 2007...

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

Action: Downgraded

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.

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.

- Long Island University
- New York State Dorm Auth

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