Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and a stable outlook, to New York City's $100 million series 2012E general obligation (GO) and $700 million series 2012F refunding GO bonds. At the same time, Standard&Poor's affirmed its 'AA' rating, with a stable outlook, on the city's related parity debt outstanding. Credit factors supporting the rating include what we view as: New York City's substantial and diverse economic base. After a period of economic retrenchment caused by the national recession, which affected employment, income, and the overall real estate market, economic trends have improved and on a percent basis the city has recovered more of its jobs lost during the recession than the nation as a
