Standard&Poor's Ratings Services has assigned its 'AAA' rating, with a stable outlook, to New York State Environmental Facilities Corp.'s (NYSEFC) state clean water and drinking water revolving funds revenue bonds (New York City Municipal Water Finance Authority (NYCMWFA) projects – second resolution bonds) series 2012D. Standard&Poor's has also affirmed its 'AAA' rating on NYSEFC's parity bonds outstanding. The 'AAA' rating reflects our view of the combination of NYSEFC's extremely strong enterprise risk and financial risk profile scores, resulting from: An extremely strong market position, An extremely strong loss coverage score, partially offset by the high degree of concentration in the program as a whole, Very low levels of defaults or delinquencies, and Generally strong financial policies
