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New York City Transitional Finance Authority Series 2012 Subseries S-1A And S-1B Building Aid Revenue Bonds Rated 'AA-' Dec 11 Product Image

New York City Transitional Finance Authority Series 2012 Subseries S-1A And S-1B Building Aid Revenue Bonds Rated 'AA-' Dec 11

  • Published: December 2011
  • Region: New York
  • Standard & Poors

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Stable

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- New York City Transitional Fin Auth

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