NEW YORK (Standard&Poor's) July 11, 2013--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to the New York State Dormitory Authority's state personal income tax (PIT) revenue bonds (general purpose) series 2013A (tax-exempt) and series 2013B (federally taxable), issued for New York State. At the same time, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on the state's $26.5 billion PIT revenue bonds outstanding issued by various conduit issuers. "The ratings reflect what we view as very strong 3.98x coverage of maximum annual debt service, solid bond covenants, and the PIT's historical strength and significance as a revenue source for an economically diverse state of 19.6 million," said Standard&Poor's
