Standard&Poor's Ratings Services assigned its 'AA-' rating to New York State Dormitory Authority's $78.95 million municipal health facilities improvement program lease revenue bonds 2008 series I bonds, issued for New York City. At the same time, we affirmed the 'AA-' underlying rating (SPUR), with a stable outlook, on the authority's outstanding municipal health facilities improvement program lease revenue bonds, issued for New York City. New York City lease-rental payments to the dormitory authority secure the bonds. There is also a statutory intercept structure in place securing the bonds. The rating reflects: The payment of debt service subject to annual appropriation by New York City ('AA' rated general obligation [GO] bonds); Very broad intercept aid, which extends to state
