Summary: New York State Dormitory Authority of the State of New York; Miscellaneous Tax

S&P Global Ratings assigned its 'AA+' long-term rating to the Dormitory Authority of the State of New York's (DASNY) series 2021A (tax-exempt) and 2021B (taxable) state personal income tax (PIT) revenue bonds. At the same time, we affirmed our 'AA+' long-term rating on parity PIT-secured bonds outstanding. The outlook is negative. We also affirmed our 'AA+/A-1' dual rating on applicable issues. The negative outlook on the bonds reflects that of New York State. We rate the bonds based on our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected,

...S&P Global Ratings assigned its '##+' long-term rating to the Dormitory Authority of the State of New York's (DASNY) series 2021A (tax-exempt) and 2021B (taxable) state personal income tax (PIT) revenue bonds. At the same time, we affirmed our '##+' long-term rating on parity PIT-secured bonds outstanding. The outlook is negative. We also affirmed our '##+/A-1' dual rating on applicable issues. The negative outlook on the bonds reflects that of New York State. We rate the bonds based on our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected, in this case, New York State (general obligation [GO] rating: '##+/Negative'). The series 2021 bonds are issued on a parity with all other bonds which have been or may be issued under the General Resolution. As of Feb. 28, 2021, there were...

Summary