New York City's $1.19 Billion Fiscal 2023 Series E GO Bonds Assigned 'AA' Rating

NEW YORK (S&P Global Ratings) March 24, 2023--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.19 billion fiscal 2023 series E general obligation (GO) bonds, consisting of tax-exempt subseries E-1 ($950 million) and taxable subseries E-2 ($240 million). The outlook is stable. The city will use transaction proceeds for citywide capital purposes. "The rating reflects our view of such factors as New York City's substantial and diverse economy, and its very strong management and manageable debt service costs despite a large other postemployment benefit net liability," said S&P Global Ratings credit analyst Nora Wittstruck. The stable outlook reflects our view of New York City's relatively resilient economy following the shock of the pandemic, benefits from

...March 24, 2023 NEW YORK (S&P Global Ratings) March 24, 2023--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.19 billion fiscal 2023 series E general obligation (GO) bonds, consisting of tax-exempt subseries E-1 ($950 million) and taxable subseries E-2 ($240 million). The outlook is stable. The city will use transaction proceeds for citywide capital purposes. "The rating reflects our view of such factors as New York City's substantial and diverse economy, and its very strong management and manageable debt service costs despite a large other postemployment benefit net liability," said S&P Global Ratings credit analyst Nora Wittstruck. The stable outlook reflects our view of New York City's relatively resilient economy following the shock of the pandemic, benefits from a global presence, and diversified employment in technology, health care, financial services, and arts and entertainment....

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