Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to New York City's $50 million series 2012H, $750 million series 2012I, and $13.2 million series 2012J general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' rating, with a stable outlook, on the city's parity GO debt. Credit factors supporting the GO rating include what Standard&Poor's views as: The city's substantial and diverse economy. After a period of economic retrenchment caused by the national recession, which had an effect on employment, income, and the real estate market, economic trends have improved; on a percent basis, Standard&Poor's understands that the city has recovered all of its private sector jobs
