S&P Global Ratings assigned its 'AA' rating to the New York State Dormitory Authority's series 2024A bonds issued under the consolidated fifth general resolution for the City University of New York (CUNY). The outlook is stable. The series 2024A bonds are secured by the authority's pledge of the revenue under the Fifth General Resolution, which primarily includes the annual payments under the 2003 agreement as well as the proceeds of all bonds issued under the Fifth General Resolution, until applied for the purpose for which they were raised, and all funds and accounts established by the Fifth General Resolution, other than the arbitrage rebate fund and any fund or account established to pay the purchase price of option bonds tendered
