New York City's $3.25 Billion Fiscal 2025 GO Bonds Rated 'AA'

NEW YORK (S&P Global Ratings) April 4, 2025--S&P Global Ratings assigned its 'AA' long-term rating to New York City's $1.5 billion tax-exempt general obligation (GO) bonds, fiscal 2025 series G, subseries G-1, and to the city's $1.75 billion taxable GO bonds, fiscal 2025 series H. Our long-term rating on the city's approximately $70.8 million GO bonds, fiscal 2012 series D, subseries D3-A--which are variable-rate bonds and will be reoffered as fixed-rate bonds on April 29, 2025, the conversion date--is 'AA'. The outlook is stable. Fiscal 2025 series G and H bond proceeds will fund citywide capital expenditures. "The long-term rating reflects our view of such factors as the city's economic dynamism, resiliency, and diversity, overall balanced financial performance, large financial

...April 4, 2025 NEW YORK (S&P Global Ratings) April 4, 2025--S&P Global Ratings assigned its '##' long-term rating to New York City's $1.5 billion tax-exempt general obligation (GO) bonds, fiscal 2025 series G, subseries G-1, and to the city's $1.75 billion taxable GO bonds, fiscal 2025 series H. Our long-term rating on the city's approximately $70.8 million GO bonds, fiscal 2012 series D, subseries D3-A--which are variable-rate bonds and will be reoffered as fixed-rate bonds on April 29, 2025, the conversion date--is '##'. The outlook is stable. Fiscal 2025 series G and H bond proceeds will fund citywide capital expenditures. "The long-term rating reflects our view of such factors as the city's economic dynamism, resiliency, and diversity, overall balanced financial performance, large financial reserves, sophisticated management, and nominally large but manageable debt service costs," said S&P Global Ratings credit analyst Thomas Zemetis. The stable outlook reflects our view of New York...

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