New York City; General Obligation; Insured Liquidity; Joint Criteria Oct 10
Standard & Poors, October 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York City's $1.3 billion general obligation (GO) fiscal 2011 series C (C-1, C-2), D, and E bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term rating, with a stable outlook, on the city's parity GO debt outstanding. Credit factors supporting the rating include our view of: New York City's substantial and diverse economic base. After a period of economic retrenchment caused by the national recession, which affected employment, income, and the overall real estate market, economic trends have begun to stabilize. While New York City continues to face significant issues, economic cycles are common for the city. The city's comprehensive financial planning...
Companies mentioned in this report are:
- New York City
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- New York City
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