S&P Global Ratings assigned its 'AA+' long-term rating to the New York State Urban Development Corp.'s approximately $600 million series 2024A sales tax revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the issuer's parity debt outstanding. The outlook is stable. The bonds are secured by a dedication of state sales tax in an amount equal to a 2% tax rate deposited into the sales tax revenue bond tax fund (STRBTF), subject to appropriation. The dedication is made from within New York State's existing sales tax collection and does not represent an increase in the overall state tax rate, which is currently 4%. The series 2024A bonds are issued on a parity with all bonds
