Standard&Poor's Ratings Services raised its rating on New York State Housing Finance Agency's bonds to 'A+' from 'A' based on the strength of the state aid intercept supporting the bonds. The rating is consistent with similarly structured bonds issued through the Dormitory Authority of the State of New York (DASNY). The strength of the intercept structure includes: The broad intercept aid, which extends to state Medicaid funds of the New York City social services district and not just Medicaid funds due to the city; Very strong debt service coverage levels from Medicaid revenues; and The essential nature of the Medicaid program, which is constitutionally based in New York State, thereby ensuring a viable revenue stream available for intercept
