Summary: Dormitory Authority Of The State Of New York Long Island University; Private Coll/Univ - General Obligation Jul 08

Standard & Poors, July 2008

Abstract
Standard & Poor's affirmed its 'BBB-' underlying rating (SPUR) on Dormitory Authority of the State of New York, N.Y.'s series 2006A-1 and 2006A-2 revenue bonds, issued for Long Island University (LIU). The series 2006A-1 and 2006A-2 bonds are reoffered as variable-rate demand obligations. Standard & Poor's expects to issue a short-term liquidity rating on the direct-pay letter of credit (LOC) provided by Allied Irish Banks and Citizens Bank. The rating reflects the institutions': Solid financial operations, which have generated consistent surpluses over the past several years; Stable levels of demand and enrollment overall and strong enrollment in niche programs; Low discount rate of 16.4% providing some flexibility compared with peer institutions; Demonstrated ability to fundraise with the successful completion of...

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

Action: Affirmed
Action: Outlook: Stable

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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