NEW YORK (Standard&Poor's) July 11, 2005--Standard&Poor's Ratings Services assigned its 'A+' rating to New York City's $920 million general obligation bonds, fiscal 2006 series A, B, C, and D, and affirmed its 'A+' rating on the city's $32 billion of outstanding parity debt. The outlook is stable. On May 17, Standard&Poor's raised its rating on the city's general obligation bonds to 'A+' from 'A' based on the city's steady fiscal and economic recovery since 2001 and strong budget management, with record gaps proactively responded to and closed, as well as a comprehensive financial planning process that has enabled the city to effectively balance its ongoing spending pressures. Additional credit factors include the city's substantial
