NEW YORK (Standard&Poor's) July 15, 2015--Standard&Poor's Ratings Services has assigned its 'AAA' rating and stable outlook to New York State Dormitory Authority's approximately $1.2 billion state sales tax revenue bonds, series 2015A. At the same time, Standard&Poor's has affirmed 'AAA' ratings on parity debt outstanding. The outlook is stable. The bonds are secured by a dedication of state sales tax in an amount initially equal to a 1% tax rate. The dedication is made from within the state's existing sales tax collection and does not represent an increase in the overall state tax rate. The dedicated tax is separate and distinct from the 1% sales tax securing bonds of the New York Local Government
