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New York City's GO Bonds Rated 'A+'; Financial Outlook Remains Healthy Apr 06 Product Image

New York City's GO Bonds Rated 'A+'; Financial Outlook Remains Healthy Apr 06

  • ID: 1754384
  • April 2006
  • Region: New York
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) April 4, 2006--Standard & Poor's Ratings Services assigned its 'A+' rating to New York City's $445 million GO bonds, fiscal 2006 series I, and affirmed its 'A+' rating on the city's $34 billion of parity debt. The rating outlook is stable. The city's overall economic forecast shows moderate growth through fiscal 2009. The city's real estate market remains strong, the financial services sector continues to prosper, and retail activity is strong due in part to a healthy tourism sector. Positive revenue and financial trends have also improved the city's liquidity position, with no short-term borrowing for cash flow purposes since fiscal 2004. New York City's most recent financial plan modification, released Jan. 31, indicates continued...

Companies mentioned in this report are:
- New York City

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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