...May 17, 2023 NEW YORK (S&P Global Ratings) May 17, 2023--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.61 billion fiscal 2023 series F, G, and 1 general obligation (GO) bonds, consisting of tax-exempt subseries F-1 ($1.15 billion), taxable subseries F-2 ($153.6 million), tax-exempt series G ($50.0 million), and tax-exempt series 1 ($265.5 million). The outlook is stable. The city will use series F and G transaction proceeds to refund GO bonds outstanding. The city will also remarket portions of the fiscal 2021 series D and E taxable GO bonds as tax-exempt and redesignate the bonds as fiscal 2023 series 1. "The rating reflects our view of New York City's very strong management and manageable debt service costs offset by long-term liabilities that constrain the rating in the near term," said S&P Global Ratings credit analyst Nora Wittstruck. The stable outlook reflects our view of New York City's relatively resilient economy, including its near...
