...September 1, 2022 NEW YORK (S&P Global Ratings) Sept. 1, 2022--S&P Global Ratings assigned its '##/A-1' dual rating to New York City's $200 million fiscal 2023 series A, subseries A-3 general obligation (GO) adjustable-rate bonds. At the same time, we assigned our '##/A-1+' dual rating to the city's $100 million fiscal 2023, series A, subseries A-4 GO adjustable-rate bonds. The outlook is stable. At the beginning of fiscal 2023, the city had about $38.9 billion of GO debt outstanding. "The long-term component of the ratings on these subseries reflects our GO rating on New York City while the short-term component reflects our assessment of each of the respective standby bond purchase agreement provider's short-term rating," said S&P Global Ratings credit analyst Nora Wittstruck. The Bank of Montreal acting through its Chicago Branch is the standby bond purchase agreement provider (SBPA) provider for the subseries A-3 bonds, and TD Bank N.A. is the SBPA provider for the subseries A-4 bonds....
