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
- Dorm Auth of the St of New York
Action: New Rating
Action: Outlook: Stable
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Research type: News
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