NEW YORK (Standard&Poor's) Oct, 1, 2012--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to New York State Dormitory Authority's (general purpose) series 2012D (tax-exempt), 2012E (tax-exempt), and 2012F (federally taxable) state personal income tax (PIT) revenue bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on the state's $25.9 billion PIT revenue bonds outstanding issued by various conduit issuers. "The 'AAA' rating reflects what we view as very strong 3.97x coverage of future maximum annual debt service, by the most recent fiscal year's historical pledged PIT revenues," said Standard&Poor's credit analyst David Hitchcock. The rating also reflects what we consider: Solid bond covenants mirroring
