Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to the Dormitory Authority of the State of New York's (DASNY) series 2013B school district revenue bond financing program revenue bonds issued on behalf of Fayetteville-Manlius Central School District. The rating reflects the higher of the school issuer credit rating (ICR) and the enhanced state program rating. The rating reflects our view of: The credit characteristics of the participant school district; and The statutory provisions provided by section 99-b of New York State Finance Law and more than 1x maximum annual debt service coverage by state aid. The DASNY program has added layers of protection, including: An additional timing enhancement that increases the likelihood of the timely receipt
