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Summary: New York St Dorm Auth; Revenue - Higher Education, Appropriations Mar 00

  • ID: 1953804
  • March 2000
  • Region: New York
  • Standard & Poors
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Abstract
The rating on the New York State Dormitory Authority is based on: The state's historical commitment to funding community college projects and operations; New York State's underlying creditworthiness; and Debt service payments subject to annual appropriation. Proceeds of bonds are sold to finance the state's (50%) share of $114 million of project costs on 15 community college campuses. Debt service will be paid from amounts appropriated by the state equal to each participating local sponsor's debt obligations. Each of the local sponsors has assigned its right to receive payments from the state to the Dormitory Authority . The local sponsors are directly responsible for financing the remaining 50% of project costs. Current annual appropriations by the state cover 100% of...

Companies mentioned in this report are:
- Dorm Auth of the St of New York

Action: Upgraded

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- Dorm Auth of the St of New York

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