NEW YORK (Standard&Poor's) June 8, 2010--Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York City, N.Y.'s general obligation (GO) fiscal 2010 bonds series H and subseries H-1 and H-2. We also affirmed the 'AA' long-term rating, with a stable outlook, on the city's parity GO debt outstanding. "The rating reflects our view of New York City's substantial and diverse economic base," said Standard&Poor's credit analyst Karl Jacob. After a period of economic retrenchment caused by the national recession, which affected employment, income, and the overall real estate market, economic trends have begun to stabilize. "While New York City continues to face significant issues, economic cycles are common for the
