NEW YORK (Standard&Poor's) Feb. 8, 2008--Standard&Poor's Ratings Services assigned its 'AA' rating, with a stable outlook, to New York City's $550 million fiscal 2008 series I GO bonds. At the same time, Standard&Poor's affirmed its 'AA' rating and underlying rating (SPUR), with a stable outlook, on the city's GO parity debt. Rating factors supporting New York City's 'AA' long-term debt rating include the city's substantial and diverse economic base, comprehensive financial planning process that has helped it effectively balance a recent forecasted revenue decline and ongoing spending pressures, and surplus revenues over the past several years that have enabled it to continue prepaying expenses for subsequent budget years, reduce debt levels, and begin to
