NEW YORK (Standard&Poor's) Dec. 4, 2009--Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York City's general obligation (GO) fiscal 2010 series D (D-1 and D-2) and fiscal 2010 series E and F bonds, in the total amount of $1.4 billion. We also affirmed the 'AA' long-term rating, with a stable outlook, on the city's parity GO debt outstanding. In our opinion, credit factors supporting the rating include: New York City's substantial and diverse economic base; The city's comprehensive financial planning process, which has helped it effectively balance forecast revenue declines and ongoing spending pressures; and What we see as prudent use of surplus revenues in the past several years, which have
