New York State Outlook Revised To Negative On Looming Budget Uncertainty

NEW YORK (S&P Global Ratings) Dec. 11, 2020--S&P Global Ratings revised its outlook to negative from stable on the State of New York. We also affirmed our 'AA+' rating on the state's general obligation (GO) debt outstanding and our 'AA' rating on its appropriation-backed obligation debt with various issuers and entities. We also affirmed our 'AAA/A-1+', 'AAA/A-1', 'AA+/A-1', 'AA,A-1' joint support and dual ratings on various issues where the short-term ratings are based on the liquidity support from various financial institutions. In addition, we revised the outlook to negative from stable, while affirming our long-term rating, on various revenue bonds rated under our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which factors in both the strength

...NEW YORK (S&P Global Ratings) Dec. 11, 2020--S&P Global Ratings revised its outlook to negative from stable on the State of New York. We also affirmed our '##+' rating on the state's general obligation (GO) debt outstanding and our '##' rating on its appropriation-backed obligation debt with various issuers and entities. We also affirmed our '###/A-1+', '###/A-1', '##+/A-1', '##,A-1' joint support and dual ratings on various issues where the short-term ratings are based on the liquidity support from various financial institutions. In addition, we revised the outlook to negative from stable, while affirming our long-term rating, on various revenue bonds rated under our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which factors in both the strength and stability of the pledged revenues, as well as the general creditworthiness of the linked obligor, in this case the State of New York (GO rating). The priority-lien rating on these bonds is limited by...

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