Research And Markets Research And Markets

New York City; Tax Secured, General Obligation Dec 03

  • ID: 1817632
  • December 2003
  • Region: New York
  • Standard & Poors
1 of 3

The 'A' rating on New York City's GO bonds fiscal 2004 series F and affirmed 'A' rating on the city's outstanding parity debt reflect: The city's substantial and diverse economic base, which is slowly recovering from the recent national recession and economic repercussions of the Sept. 11 terrorist attacks; A well-managed financial program that has proactively responded to record budget gaps; and A high debt burden by all measures. New York City will privately place $500 million of the fiscal 2004 series F fixed-rate bonds to Citigroup Global Markets Inc. as part of a total return interest-rate swap to variable-rate debt. The city's total tax-supported variable-rate debt following this transaction will be $8.2 billion, or 17.4% of total outstanding tax-supported...

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

Note: Product cover images may vary from those shown
2 of 3

- New York City

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown