The 'AA-' rating and stable outlook on the New York State Dormitory Authority's municipal health facilities improvement program lease revenue bonds 2001 series 2 bonds, subseries 2-1 through 2-5, issued for New York City, reflects: The payment of debt service subject to annual appropriation by New York City ('AA' rated general obligation bonds); Very 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; and The essential nature of the Medicaid program, which is constitutionally based in New York State, thereby ensuring a viable revenue stream and strong coverage available for intercept for the life of the bonds. The bond insurance policies on all
