New York State Dormitory Authority's Pledged Assessment Revenue Bond Rated 'AA'; Outlook Stable Oct 09
- ID: 1953800
- October 2009
- Region: New York
- Standard & Poors
NEW YORK (Standard & Poor's) Oct. 16, 2009--Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York State Dormitory Authority's approximately $800 million pledged assessment revenue bonds, series 2009A. The bonds are payable from special assessments attributable to New York State's special disability fund (SDF), a special fund under the administration of the state's workers' compensation board. The bonds are secured by unlimited assessments levied statewide on insurers offering workers' compensation insurance within the state of New York ('AA' general obligation rating). This rating is not an opinion of SDF's claims-paying capacity. The rating reflects our opinion of the following credit factors: The ability to levy unlimited assessments on workers' compensation insurers on a...
Companies mentioned in this report are:
- New York State
- New York State Dorm Auth
Action: New Rating
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.
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.