Standard&Poor's Ratings Services assigned its 'A' rating to New York City's $1.28 billion GO bonds fiscal 2005 series J, K, and L, and affirmed its 'A' rating on the city's $32 billion of GO debt outstanding. The rating reflects the city's: Continued financial and economic recovery, evidenced by stronger-than-projected revenue performance for the current fiscal year and out-years of the financial plan; Substantial and diverse economic base, which is performing in line with national economic trends; Strong growth in the taxable real estate base, which has been a stabilizing financial factor for the city and will continue to be a credit strength due to the strong real estate market; Well-managed financial program, which has proactively responded and closed
