Standard & Poor's Corp. announced on Friday that it expects to rate an upcoming New York State Thruway Authority bond sale, which is currently the subject of a taxpayer lawsuit.

The lawsuit, filed by taxpayer activist Robert L. Schulz, challenges the constitutionality, of the $200 million issue, which will finance the first leg of the state's multi-billion-dollar transportation highway program. The state will issue the bonds through the Thruway Authority in late September.

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