New York City 2025 General Obligation Bonds Rated 'AA'; Outlook Is Stable

NEW YORK (S&P Global Ratings) Sept. 27, 2024--S&P Global Ratings assigned its 'AA' long-term rating to New York City (NYC)'s $820 million fiscal 2025 general obligation (GO) bonds, taxable social bonds, subseries D-1, and its $680 million taxable GO bonds, subseries D-2, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. At the same time, we affirmed our 'AA' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds outstanding, our 'AA-' underlying rating (SPUR) on the city's appropriation debt outstanding, and our 'A+' SPUR on the city's moral obligation debt outstanding. Finally, we affirmed our ratings on various issuances where the short-term components are based on

...September 27, 2024 NEW YORK (S&P Global Ratings) Sept. 27, 2024--S&P Global Ratings assigned its '##' long-term rating to New York City (NYC)'s $820 million fiscal 2025 general obligation (GO) bonds, taxable social bonds, subseries D-1, and its $680 million taxable GO bonds, subseries D-2, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. At the same time, we affirmed our '##' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds outstanding, our '##-' underlying rating (SPUR) on the city's appropriation debt outstanding, and our 'A+' SPUR on the city's moral obligation debt outstanding. Finally, we affirmed our ratings on various issuances where the short-term components are based on the liquidity support provided by various financial institutions, and where the long-term components are based on joint support. The outlook, where applicable, is stable. New York City's faith and...

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