NEW YORK (Standard & Poor's) Dec. 2, 2011--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to New York City Transitional Finance Authority's $550 million series 2012 fiscal 2009 subseries S-1A (tax-exempt) state building aid revenue bonds and $100 million series 2012 fiscal 2012 subseries S-1B building aid revenue bonds (taxable qualified school construction bonds). Standard & Poor's also affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the authority's existing debt. The rating reflects Standard & Poor's opinion of: The strong bond provisions, established under statute and indenture, directing the flow of building aid directly to the trustee for the benefit of bondholders; The stability of building aid flowing to...
Companies mentioned in this report are:
- New York City Transitional Fin 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.