• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: New York State Dormitory Authority Wagner College; Letter of Credit Jan 09
Standard & Poors, January 2009
Standard & Poor's Ratings Services assigned its 'AA-/A-1+' rating to New York State Dormitory Authority's (Wagner College) revenue bonds series 2009 based on the direct-pay, irrevocable letter of credit (LOC) provider, TD Bank N.A. (AA-/A-1+). The LOC provides coverage for payment of principal and interest on the bonds for a maximum 35 days of interest coverage at 12% annually. The LOC provides coverage for bonds in the weekly or daily rate mode, but the bonds will initially bear interest in the weekly rate mode. The bonds may be converted to a daily rate, term rate, or fixed-interest rate mode. Upon a conversion to a mode other than the daily or weekly rate modes, there will be a mandatory tender, and...
Companies mentioned in this report are: Wagner Coll,New York State Dorm Auth
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Wagner Coll,New York State Dorm Auth