New York City GO Bonds Assigned 'AA' Rating

NEW YORK (S&P Global Ratings) Feb. 6, 2020--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.5 billion fiscal 2020 series C general obligation (GO) bonds, consisting of approximately $1.1 billion tax-exempt fiscal 2020 series C-1, approximately $133.6 million taxable series C-2, and approximately $290 million taxable series C-3. At the same time, we affirmed our 'AA' underlying rating on all of the city's GO debt outstanding and our 'AA-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' underlying rating on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its joint-support ratings on various issuances

...NEW YORK (S&P Global Ratings) Feb. 6, 2020--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.5 billion fiscal 2020 series C general obligation (GO) bonds, consisting of approximately $1.1 billion tax-exempt fiscal 2020 series C-1, approximately $133.6 million taxable series C-2, and approximately $290 million taxable series C-3. At the same time, we affirmed our '##' underlying rating on all of the city's GO debt outstanding and our '##-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' underlying rating on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its joint-support ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions. The outlook is stable. Proceeds from the fiscal 2020 series C bonds will...

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