NEW YORK (Standard&Poor's) Dec. 11, 2014--Standard&Poor's Ratings Services has raised its rating on New York Municipal Bond Bank Agency's special school purpose revenue bonds (prior year claims -- New York City) series 2012A to 'AA' from 'AA-'. The outlook is stable. "We base the upgrade on our general obligation rating on New York State and adequate coverage of debt service by direct payment state education aid to New York City," said Standard&Poor's credit analyst David Hitchcock. The rating reflects our view of: The credit quality of the state of New York (AA+/Stable); The importance and stability of state aid payments for education for New York City, subject to annual state appropriation; and A strong
