Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax - S&P Global Ratings’ Credit Research

Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax

Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax - S&P Global Ratings’ Credit Research
Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax
Published Dec 14, 2020
9 pages (4047 words) — Published Dec 14, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA+' long-term rating to the New York State Urban Development Corp.'s (UDC) series 2020E (tax-exempt) and 2020F (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. The negative outlook on the bonds reflects that of the State of New York. 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, the State of New York (general obligation

  
Brief Excerpt:

...(Editor's Note: The state's outlook was changed to negative from stable on Dec. 11, 2020. On Dec. 14, 2020, we reported on a technical issue causing rating outlooks to continue to display as stable instead of negative. The issue has been resolved and all ratings should now reflect the negative outlook.) Credit Profile...

  
Report Type:

Summary

Issuer
State of New York
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax" Dec 14, 2020. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-State-New-York-State-Urban-Development-Corp-Miscellaneous-Tax-2570578>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: New York State New York State Urban Development Corp.; Miscellaneous Tax Dec 14, 2020. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-State-New-York-State-Urban-Development-Corp-Miscellaneous-Tax-2570578>
  
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