Summary: New York State Dormitory Authority State University of New York; Appropriations Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to New York State Dormitory Authority's series 2012A third general resolution revenue bonds (State University Educational Facilities Issue). At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying ratings on the authority's bonds issued for the State University of New York (SUNY) payable from annual state general fund appropriations under the authority's 1989, 1999, and 2002 resolutions. The 'AA-' rating reflects New York State's (GO rating: AA/Stable) payment of debt service subject to annual appropriation and an intercept provision that allows the state comptroller to access operating appropriations made to SUNY by the legislature, if the state fails to pay for debt service. Approximately $2...

Companies mentioned in this report are:
- State Univ Of New York
- New York State Dorm Auth

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

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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.

- State Univ Of New York
- New York State Dorm Auth

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