New York City Fiscal 2011 General Obligation Bonds Rated 'AA'; Outlook Stable Mar 11

  • ID: 1753634
  • March 2011
  • Region: New York
  • Standard & Poors
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NEW YORK (Standard & Poor's) March 3, 2011--Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York City's $641 million general obligation (GO) fiscal 2011 series I (I-1, I-2, I-3) 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 what we view as: 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 are improving. While New York City continues to face significant issues, economic cycles are common for the city. The...

Companies mentioned in this report are:
- New York City

Action: New Rating
Action: Outlook: Stable

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Research type: News
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- New York City

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