New York City's 2018B Tax-Exempt GO Bonds Subseries B-1, B-2, And B-3 Rated 'AA'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Sept. 11, 2017--S&P Global Ratings assigned its 'AA' long-term rating to New York City's fiscal 2018 series B general obligation (GO) bonds, consisting of tax-exempt subseries B-1, taxable subseries B-2, and subseries B-3. Concurrently, the city expects to convert to fixed rate from variable rate fiscal 2018 series 1 bonds, which S&P Global Ratings affirmed at 'AA'. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on New York City's debt outstanding. "The 'AA' GO rating reflects our view of New York City's strong economy, with access to a broad and diverse metropolitan statistical area," said S&P Global Ratings credit analyst Anne Cosgrove. We believe other credit-positive factors include: Adequate

...NEW YORK (S&P Global Ratings) Sept. 11, 2017--S&P Global Ratings assigned its '##' long-term rating to New York City's fiscal 2018 series B general obligation (GO) bonds, consisting of tax-exempt subseries B-1, taxable subseries B-2, and subseries B-3. Concurrently, the city expects to convert to fixed rate from variable rate fiscal 2018 series 1 bonds, which S&P Global Ratings affirmed at '##'. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on New York City's debt outstanding. "The '##' GO rating reflects our view of New York City's strong economy, with access to a broad and diverse metropolitan statistical area," said S&P Global Ratings credit analyst Anne Cosgrove. We believe other credit-positive factors include: + Adequate budgetary performance; + Very strong management and historically conservative budgeting practices; + Strong budgetary flexibility; + Very strong liquidity; + Very weak debt and contingent liability profile; and + Very strong institutional...

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