S&P Global Ratings revised its outlook to negative from stable and affirmed its 'AA-' rating on New York University 's (NYU) outstanding debt. At the same time, S&P Global Ratings assigned its 'AA-' long-term rating to the Dormitory Authority of the State of New York 's (DASNY) $1.25 billion series 2025A tax-exempt and $920.7 million series 2025B taxable bonds, issued for NYU. S&P Global Ratings also affirmed its 'A-1+' short-term rating on DASNY's taxable commercial paper (CP) program, issued for NYU. Finally, S&P Global Ratings affirmed its 'AA-' issuer credit rating (ICR) on NYU. The negative outlook revision reflects our view of NYU's significant $1.4 billion new money debt issuance, which continues to keep its financial resource ratios well below our rating
