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New York City Transitional Finance Authority; Appropriations Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to New York City Transitional Finance Authority's (TFA) series 2012 subseries S-1A (tax-exempt) state building aid revenue bonds and 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 our 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 New York City, along with the state's steady commitment to fund this program over...
Companies mentioned in this report are: New York City Transitional Fin 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.
Research Type: Full Analysis
New York City Transitional Fin Auth