New York City's 2011 GO Bonds Assigned 'AA' Rating Dec 10
Standard & Poors, December 2010
Abstract
NEW YORK (Standard & Poor's) Dec. 20, 2010--Standard & Poor's Ratings Services assigned its 'AA' long-term rating and stable outlook to New York City's general obligation (GO) fiscal 2011 subseries F-3 adjustable-rate bonds. Standard & Poor's also affirmed its 'AA' long-term rating on the city's previously issued parity GO debt. "Like all other municipal governments, New York City continues to face certain risks to its financial plan, including potential losses in federal and state aid," said Standard & Poor's credit analyst Karl Jacob. "However, we believe the city's long-term planning and proactive budget management mitigate these risks and will provide New York City the flexibility to manage its budget in an environment of weak but stabilizing economic activity and revenue...
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.
- New York City
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