New York State Thruway Authority New York State; Gas Tax Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York State Thruway Authority's second general highway and bridge trust fund bonds, series 2012A. The bonds are secured by a second lien on dedicated gas tax trust funds. Standard & Poor's also affirmed its 'AA' rating, with a stable outlook, on the authority's $6.7 billion of parity second-lien bonds outstanding and its 'AA' rating on the authority's $420.2 million of closed first-lien bonds. After the sale of the 2012A bonds, all of the first-lien bonds are expected to be refunded and defeased, except for a 2012 maturity, upon which we expect to withdraw the rating on the first-lien bonds. The ratings reflect what we view...

Companies mentioned in this report are: New York State,New York St Thruway 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 State,New York St Thruway Auth

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