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New York City's GO Bonds Series G & H Rated 'A'; Fiscal and Economic Recovery Continue Feb 04 Product Image

New York City's GO Bonds Series G & H Rated 'A'; Fiscal and Economic Recovery Continue Feb 04

  • ID: 1817542
  • February 2004
  • Region: New York
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Feb. 9, 2004--Standard & Poor's Ratings Services has assigned its 'A' rating to New York City's $950 million general obligation bonds fiscal 2004 series G and H, reflecting the city's continued financial and economic recovery, which is evidenced by a stronger-than-projected revenue forecast for the current fiscal year and out years of the financial plan. The bonds are scheduled to sell on Feb. 10. The outlook is stable. At the same time, the rating agency affirmed its 'A' rating on the city's outstanding $29.7 billion parity debt. The rating also reflects a substantial and diverse economic base, which is on track to recover in-line with national economic trends; a strong real estate market that has...

Companies mentioned in this report are:
- New York City

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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