...March 11, 2022 DALLAS (S&P Global Ratings) March 11, 2022--S&P Global Ratings assigned its '##+' long-term rating to the Dormitory Authority of the State of New York's (DASNY) approximately $2.3 billion series 2022A (tax-exempt) and $663 million 2022B (federally taxable) state personal income tax (PIT) revenue bonds (general purpose). The outlook is stable. "We rate the bonds based on our 'Priority-Lien Tax Revenue Debt' criteria, which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected--in this case, New York State (general obligation [GO] rating: '##+/Stable')," said S&P Global Ratings credit analyst Ladunni Okolo. The criteria were published Oct. 22, 2018, on RatingsDirect. "The stable outlook on the bonds reflects the stable outlook on the New York State GO rating. In particular, we view favorably improvement in the state's near-term economic and revenue recovery,...
