Standard&Poor's Ratings Services affirmed its 'A+' rating and stable outlook on New York State Dormitory Authority's (DASNY) series 2002H, 2002I, 2005D, 2006A, 2012F, and 2012K school districts revenue bond financing program. 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 understanding among the authority, the comptroller, and the state education department for
