Summary: New York City Trust for Cultural Resources Lincoln Center for the Performing Arts; Joint Criteria Jun 12

Standard & Poors, June 2012

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA/A-1' rating on the New York City Trust for Cultural Resources' series 2008A-1 bonds issued for Lincoln Center for the Performing Arts, effective upon the substitution of the letter of credit (LOC) on June 18, 2012. On the substitution date, the existing LOC will be replaced with one provided by JPMorgan Chase Bank N.A. (A+/A-1). The long-term component of the rating continues to reflect the application of our joint criteria following the low-correlation table based on support from Lincoln Center for the Performing Arts ('A+' underlying rating) and JPMorgan Chase Bank. On and after the substitution date, the short-term component of the rating will reflect the short-term rating on JPMorgan Chase Bank. The...

Companies mentioned in this report are: Lincoln Ctr for the Performing Arts,New York City Trust for Cultural Resources
Action: Affirmed

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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.

Lincoln Ctr for the Performing Arts,New York City Trust for Cultural Resources

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