New York City; General Obligation; Joint Criteria; Miscellaneous Tax Feb 12
Standard & Poors, February 2012
Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and a stable outlook, to New York City's $100 million series 2012E general obligation (GO) and $700 million series 2012F refunding GO bonds. At the same time, Standard & Poor's affirmed its 'AA' rating, with a stable outlook, on the city's related parity 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 have improved and on a percent basis the city has recovered more of its jobs lost during the recession than the nation as a...
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
- New York City
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