Summary: New York State Dormitory Authority New York State; Appropriations; Joint Criteria

S&P Global Ratings affirmed its 'AA' long-term rating on New York State Dormitory Authority's series 2010A bonds issued under the fifth-consolidated general resolution for the City University of New York (CUNY) and affirmed its 'AA' long-term rating and underlying rating (SPUR) on the authority's revenue bonds, various series, issued for CUNY under various consolidated resolutions. We also affirmed our 'AA+/A-1' long-term rating on the authority's series 2008C fifth-consolidated general resolution revenue bonds and our 'AAA/A-1+' long-term rating on the authority's series 2008D fifth-consolidated general resolution revenue bonds. The long-term component of the rating is based jointly on the ratings on the obligor, New York State, and the letter of credit (LOC) provider, Bank of America N.A. (low correlation) and T.D.

...S&P Global Ratings affirmed its '##' long-term rating on New York State Dormitory Authority's series 2010A bonds issued under the fifth-consolidated general resolution for the City University of New York (CUNY) and affirmed its '##' long-term rating and underlying rating (SPUR) on the authority's revenue bonds, various series, issued for CUNY under various consolidated resolutions. We also affirmed our '##+/A-1' long-term rating on the authority's series 2008C fifth-consolidated general resolution revenue bonds and our '###/A-1+' long-term rating on the authority's series 2008D fifth-consolidated general resolution revenue bonds. The long-term component of the rating is based jointly on the ratings on the obligor, New York State, and the letter of credit (LOC) provider, Bank of America N.A. (low correlation) and T.D. Bank N.A. (low correlation), respectively. The '##' rating reflects our assessment of the several layers of security, including the CUNY system's:...

Summary