Fitch Affirms New York Dormitory Auth Mental Health Bnds 2003D-2F at 'A+/F1+'.NEW YORK -- Fitch Ratings affirms the 'A+/F1+' rating assigned to $50,000,000 Dormitory Authority of the State of New York The Dormitory Authority of the State of New York (acronym: DASNY, IPA pronunciation: ['dæzniː]; also frequently referred to as just "Dormitory Authority") provides construction, financing, and allied services which serve (DASNY DASNY Dormitory Authority of the State of New York ), mental health services facilities improvement revenue bonds, subseries 2003D-2F. The bonds are currently rated based on: the rating assigned to DASNY's mental health services long-term revenue bonds with respect to the 'A+' long-term rating, and the standby bond purchase agreement (Standby) provided by HSH HSH abbr. Her (or His) Serene Highness Nordbank, AG (HSH), acting through its New York Branch, with respect to the 'F1+' short-term rating. On Oct. 2, 2006, the HSH Standby will be replaced with a Standby provided by JPMorgan Chase Bank, National Association (JPM JPM J. P. Morgan Chase & Co. (stock symbol) JPM Juan Pablo Montoya (formula 1 driver) JPM Jabatan Perdana Menteri (Malaysia) JPM Journal of Property Management ). The 'A+' component of the rating continues to be based on DASNY's mental health services long-term revenue bond rating, and effective Oct. 2, 2006, the short-term 'F1+' rating will be based on the JPM Standby. The short-term rating will expire on the earlier of: July 15, 2009, unless such date is extended; or any prior termination of the JPM Standby. The remarketing agent is Goldman, Sachs & Co. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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