Standard&Poor's Ratings Services assigned its 'AA-' long term rating, and stable outlook, to New York State Thruway Authority's $233.185 million local highway and bridge service contract bonds series 2012A, payable from service contract payments made by New York State ('AA' general obligation [GO] rating). At the same time, we affirmed our 'AA-' rating on $1.08 billion of the authority's service contract parity bonds outstanding. The rating reflects what we view as the: General creditworthiness of New York State, as reflected in our current 'AA' rating on the state's GO bonds; Established use of the service contract, which provides an absolute and unconditional obligation of the state once the appropriation is made; and Commitment demonstrated within both the administration
