Medians And Credit Factors On New York State School Districts Published

BOSTON (S&P Global Ratings) March 25, 2019--S&P Global Ratings today published its report: "Medians And Credit Factors: New York State School Districts." "New York State school districts have maintained stable credit quality in recent years, despite annual budget challenges related to the state's property tax cap," said S&P Global Ratings credit analyst Steven Waldeck. "For the medium term, we believe the operating environment is stable, buoyed by consistent economic growth, albeit somewhat uneven across the state." Overall, rating actions over the past year were minimal, with only three downgrades and two upgrades across the portfolio. The negative rating actions were due primarily to difficulty in achieving structural budget balance, which led to a deterioration of reserves and liquidity. Currently, 97%

...BOSTON (S&P Global Ratings) March 25, 2019--S&P Global Ratings today published its report: "Medians And Credit Factors: New York State School Districts." "New York State school districts have maintained stable credit quality in recent years, despite annual budget challenges related to the state's property tax cap," said S&P Global Ratings credit analyst Steven Waldeck. "For the medium term, we believe the operating environment is stable, buoyed by consistent economic growth, albeit somewhat uneven across the state." Overall, rating actions over the past year were minimal, with only three downgrades and two upgrades across the portfolio. The negative rating actions were due primarily to difficulty in achieving structural budget balance, which led to a deterioration of reserves and liquidity. Currently, 97% of our ratings have a stable outlook, while six carry negative outlooks. Only one district maintains a positive outlook. As of March 2019, S&P Global Ratings maintains ratings on 353 New...

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