...NEW YORK (S&P Global Ratings) Feb. 2, 2017--S&P Global Ratings assigned its '##' long-term rating to New York City's fiscal 2017 series C and D general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its ratings on other city and city-related obligations. The outlook is stable. The '##' GO rating reflects our view of New York City's: + Strong economy; + Very strong management; + Strong budgetary flexibility; + Very strong liquidity; + Very weak debt and contingency liability profile; and + Very strong institutional framework score. We understand the city plans to use proceeds to refund existing GO bonds. "New York City's economy remains robust because it serves as the economic engine for the Mid-Atlantic region," said S&P Global Ratings credit analyst Anne Cosgrove. Its major employment sectors are trade, financial activities, professional services, education, health services, and government. Despite recent economic diversification, there is still a higher-than-average...
