New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating - S&P Global Ratings’ Credit Research

New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating

New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating - S&P Global Ratings’ Credit Research
New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating
Published Sep 22, 2023
3 pages (1392 words) — Published Sep 22, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 22, 2023--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $700 million fiscal 2024 series B, subseries B-1 general obligation (GO) social bonds (taxable) and approximately $235 million fiscal 2024 series B, subseries B-2 GO bonds (taxable). The outlook is stable. The 'AA' rating reflects our view of New York City's substantial economic size, including a population of 8.3 million (July 2022 estimate) across Bronx, Kings, Queens, Richmond, and New York counties, which is larger than that of 38 separate U.S. states. Furthermore, the metropolitan area's GDP remained the highest across all U.S. metro areas at nearly $2 trillion in 2021 and was more than 77% larger than that of

  
Brief Excerpt:

...September 22, 2023 NEW YORK (S&P Global Ratings) Sept. 22, 2023--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $700 million fiscal 2024 series B, subseries B-1 general obligation (GO) social bonds (taxable) and approximately $235 million fiscal 2024 series B, subseries B-2 GO bonds (taxable). The outlook is stable. The '##' rating reflects our view of New York City's substantial economic size, including a population of 8.3 million (July 2022 estimate) across Bronx, Kings, Queens, Richmond, and New York counties, which is larger than that of 38 separate U.S. states. Furthermore, the metropolitan area's GDP remained the highest across all U.S. metro areas at nearly $2 trillion in 2021 and was more than 77% larger than that of the next-largest metro area (Los Angeles-Long Beach-Anaheim). Finally, New York City's excellent universities, access to first-class health care providers, active venture capital segment, and attractiveness as a leisure and business...

  
Report Type:

Ratings Action

Issuer
New York City
Sector
Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating" Sep 22, 2023. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-Series-2024B-1-And-B-2-Bonds-Assigned-AA-Rating-3059125>
  
APA:
S&P Global Ratings’ Credit Research. (). New York City Series 2024B-1 And B-2 Bonds Assigned 'AA' Rating Sep 22, 2023. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-Series-2024B-1-And-B-2-Bonds-Assigned-AA-Rating-3059125>
  
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