N.Y.C.'s STAR Corp. Remains Secure With Credit Ratings

McDonald, Michael
October 2004
Bond Buyer;10/20/2004, Vol. 350 Issue 31993, p36
Trade Publication
The article reports that New York City's Sales Tax Asset Receivable Corp. has earned credit ratings equivalent to the state's Local Government Assistance Corp. This despite the fact that Governor George Pataki's administration has said it will not include the annual $ 170 million appropriation to back the $2.6 billion in STAR Corp. bonds in the state's annual debt service bill. The state has failed to pass a budget on time for 20 straight years and this year set a record for tardiness, missing the April 1 deadline by 132 days.


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