New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating - S&P Global Ratings’ Credit Research

New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating

New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating - S&P Global Ratings’ Credit Research
New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating
Published Feb 28, 2025
2 pages (1203 words) — Published Feb 28, 2025
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Feb. 28, 2025--S&P Global Ratings assigned its 'AA' long-term rating to New York City's $500.0 million general obligation (GO) bonds, fiscal 2025 series E, and to the city's $906.9 million GO bonds, fiscal 2025 series F. At the same time, we assigned our 'AA' long-term rating to the city's approximately $68 million GO bonds, fiscal 2006 series I, subseries I-6, which are in index-rate mode and will be reoffered in fixed-rate mode on March 20, 2025, the conversion date. In addition, we affirmed our 'AA' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds outstanding, our 'AA-' underlying rating (SPUR) on the city's appropriation debt outstanding, and our 'A+'

  
Brief Excerpt:

...February 28, 2025 NEW YORK (S&P Global Ratings) Feb. 28, 2025--S&P Global Ratings assigned its '##' long-term rating to New York City's $500.0 million general obligation (GO) bonds, fiscal 2025 series E, and to the city's $906.9 million GO bonds, fiscal 2025 series F. At the same time, we assigned our '##' long-term rating to the city's approximately $68 million GO bonds, fiscal 2006 series I, subseries I-6, which are in index-rate mode and will be reoffered in fixed-rate mode on March 20, 2025, the conversion date. In addition, we affirmed our '##' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds outstanding, our '##-' underlying rating (SPUR) on the city's appropriation debt outstanding, and our 'A+' SPUR on the city's moral obligation debt outstanding. Finally, we affirmed our ratings on various obligations where the short-term components are based on liquidity support from various financial institutions, and where the long-term components...

  
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating" Feb 28, 2025. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-s-1-47-Billion-GO-Bonds-Assigned-AA-Rating-3331233>
  
APA:
S&P Global Ratings’ Credit Research. (). New York City's $1.47 Billion GO Bonds Assigned 'AA' Rating Feb 28, 2025. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-s-1-47-Billion-GO-Bonds-Assigned-AA-Rating-3331233>
  
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