Standard&Poor's Ratings Services affirmed its 'A-1+' short-term rating on New York State Job Development Authority's (doing business as the Empire State Development Corp.) state-guaranteed commercial paper (CP) notes. The CP notes are secured by an unconditional guarantee of the state of New York. The CP rating reflects New York State's strong general obligation (GO: AA/Positive) credit quality. The authority has also arranged a back-up revolving line of credit for up to $35 million for state liquidity purposes with Bank of America N.A. (A/Negative) as successor in interest to Fleet National Bank, a Bank of America company. In 2010, the state extended its original revolving line of credit agreement with Fleet National until April 8, 2013, from its original
