NEW YORK (Standard&Poor's) June 11, 2012--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to the New York State Dormitory Authority's personal income tax (PIT) revenue refunding bonds (general purpose), series 2012A. At the same time, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on the state's PIT revenue bonds outstanding issued by various conduit issuers. "We view the historical strength of the PIT and its significance as a revenue source for an economically diverse state of 19.5 million as a credit strength," said Standard&Poor's credit analyst David Hitchcock. The 'AAA' rating also reflects what we view as: Very strong 4.28x coverage of future maximum annual debt service (MADS)
