Standard&Poor's Ratings Services assigned its 'A+' long-term rating, and stable outlook, to New York State Dormitory Authority's (DASNY) master BOCES program lease revenue refunding bonds series 2015 issued on behalf of the Delaware, Chenango, Madison, and Otsego (DCMO) Board of Cooperative Educational Services (BOCES). Standard&Poor's also affirmed its 'A+' underlying rating, with a stable outlook, on the DCMO BOCES' existing debt. The rating is based on our New York State Aid Intercept Program rating. This statute allows for the withholding of state aid due to the school district if the district does not make timely debt service payments. The bonds issued by DASNY on behalf of DCMO BOCES are rated one notch higher at 'A+' based
