Standard & Poor's Ratings Services assigned its 'AA-' rating to Dormitory Authority of the State of New York's $88 million lease-revenue bonds, series 2006A, issued for the State University of New York (SUNY). In addition, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) and standard long-term rating on the authority's lease-revenue debt, also issued for SUNY. The 'AA-' rating reflects SUNY's GO pledge, which is supported by the university's: Large, comprehensive nature and improving demand for academic programs; Increasingly diverse base of revenues, including growing research, grants, and contracts; Good history of operating and capital support provided by New York, which places the university among the better funded of U.S. public universities, and an increase in appropriations slated for...
Companies mentioned in this report are:
- State Univ Of New York
- Dorm Auth of the St of New York
Action: New Rating
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