New York City GO Rating Affirmed At 'AA'; Outlook Stable

NEW YORK (S&P Global Ratings) April 23, 2020--S&P Global Ratings affirmed its 'AA' long-term rating on New York City's general obligation (GO) bonds. In addition, we affirmed our 'AA-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s 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 ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions, and where the long-term ratings are based on joint support. The outlook is stable. "The ratings reflect our view of such factors as New York City's very strong economy, management, and liquidity,

...April 23, 2020 NEW YORK (S&P Global Ratings) April 23, 2020--S&P Global Ratings affirmed its '##' long-term rating on New York City's general obligation (GO) bonds. In addition, we affirmed our '##-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s 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 ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions, and where the long-term ratings are based on joint support. The outlook is stable. "The ratings reflect our view of such factors as New York City's very strong economy, management, and liquidity, and its strong budgetary performance," said S&P Global Ratings credit analyst Nora Wittstruck The stable outlook reflects our opinion of the city's strong credit fundamentals, underpinned...

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