...April 16, 2025 NEW YORK (S&P Global Ratings) April 16, 2025--S&P Global Ratings assigned its '##/A-1' dual ratings to New York City's $100 million adjustable-rate general obligation (GO) bonds, fiscal 2025 series G, subseries G-2, and to the city's $100 million adjustable rate GO bonds, fiscal 2025 series G, subseries G-3. Our joint support rating on the city's $200 million GO bonds, fiscal 2017 series A, subseries A-4, which are adjustable-rate bonds that will be reoffered with the substitution of the letter of credit (LOC) currently provided by Citibank N.A. (A+/A-1) for a new liquidity facility in the form of a new standby bond purchase agreement (SBPA) provided by State Street Bank and Trust Co. (##-/A-1+), effective April 22, 2025, is '##/A-1+'. In addition, our joint support rating on the city's $200 million GO bonds, fiscal 2014 series I, subseries I-3, which are adjustable-rate bonds that will be reoffered with the substitution of the LOC currently provided by Citibank N.A. (A+/A-1)...
