Standard&Poor's Ratings Services affirmed its 'A+' rating on New York State Dormitory Authority's master Board of Cooperative Educational Services (BOCES) program lease revenue bonds, issued on behalf of the Nassau County BOCES. The outlook is stable. The rating reflects: The statutory intercept of state aid payments by the New York State comptroller, which will be paid directly by the comptroller to the trustee to cover debt service payments due to the authority; What we view as strong coverage of debt service payments by state aid eligible for intercept; and The general obligation (GO) pledge of the Nassau County BOCES, which has no taxing authority, but receives revenue from participating school districts and certain aid money from the state
