Standard&Poor's Ratings Services assigned its 'A+' rating and stable outlook to New York State Dormitory Authority's (DASNY) series 2012F and 2012K school districts revenue bond financing program revenue refunding bonds and affirmed its 'A+' rating, with a stable outlook, on the existing debt. The rating reflects our assessment of the statutory provisions provided by section 99-b of New York State Local Finance Law. State aid provides at least 1x maximum annual debt service (MADS) coverage for each district participating in these bond pools. The DASNY program has added layers of protection, including: An additional timing enhancement that increases the likelihood of the timely receipt of revenue from the state comptroller for debt service payment; and A memorandum of
