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New York St Dorm Auth/CUNY $250M Revs Rtd BBB+ by S&P Jun 98

  • ID: 1953830
  • June 1998
  • Region: New York
  • Standard & Poors
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Abstract
NY -- Standard & Poor's CreditWire 6/25/98 –- Standard & Poor's today assigned its triple-'B'-plus rating to New York State Dormitory Authority's $250 million consolidated third general resolution revenue bonds series 1998-2, issued for the City University of New York (CUNY). The bonds are scheduled to sell July 8, 1998. At the same time, Standard & Poor's affirmed its ratings on the authority's outstanding debt, also issued for CUNY (see list below) The rating reflects several layers of security including: -- State appropriations for 100% of debt service for senior colleges in the CUNY system and 50% of debt service for CUNY's six community colleges; -- City appropriations for the remaining 50% of the community college debt service; -- An...

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

Action: New Rating

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.

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- Dorm Auth of the St of New York

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