• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
New York State Urban Development Corp. Personal Income Tax Revenue Bonds Rated 'AA' Nov 05 Product Image

New York State Urban Development Corp. Personal Income Tax Revenue Bonds Rated 'AA' Nov 05

  • Published: November 2005
  • Region: New York
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Nov. 4, 2005Standard & Poor's Ratings Services has assigned its 'AA' rating to New York State Urban Development Corp.'s $264.375 million state personal income tax revenue bonds series 2005B. The outlook is stable. The rating reflects the magnitude of the set-aside of the personal income tax for payments directly to the trustee, providing a strong security that effectively eliminates the risk of non-appropriation and protects against the potential for volatility in receipts; solid legal covenants mirroring a revenue bond structure, not an appropriation credit structure; the historic strength of the personal income tax and its significance as a revenue source to the state; and the strength of the economic foundation that supports the generation of...

Companies mentioned in this report are:
- New York State

Action: Affirmed
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 READ MORE >

- New York State

Note: Product cover images may vary from those shown

RELATED PRODUCTS