New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating - S&P Global Ratings’ Credit Research

New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating

New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating - S&P Global Ratings’ Credit Research
New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating
Published Sep 27, 2019
2 pages (1169 words) — Published Sep 27, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 27, 2019--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $980 million fiscal 2020 series B general obligation (GO) bonds, consisting of approximately $850 million tax-exempt fiscal 2020 series B-1 and $130 million taxable series B-2. We also affirmed our 'AA' underlying rating on all of the city's GO debt outstanding and our 'AA-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' underlying rating on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided

  
Brief Excerpt:

...September 27, 2019 NEW YORK (S&P Global Ratings) Sept. 27, 2019--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $980 million fiscal 2020 series B general obligation (GO) bonds, consisting of approximately $850 million tax-exempt fiscal 2020 series B-1 and $130 million taxable series B-2. We also affirmed our '##' underlying rating on all of the city's GO debt outstanding and our '##-' underlying rating on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' underlying rating on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions, as well as its long-term ratings that are based on joint support. The outlook on all ratings is stable. Proceeds from the fiscal 2020 series B...

  
Report Type:

Ratings Action

Issuer
New York City
Sector
Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating" Sep 27, 2019. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-s-Fiscal-2020-Series-B-GO-Bonds-Assigned-AA-Rating-2308872>
  
APA:
S&P Global Ratings’ Credit Research. (). New York City?s Fiscal 2020 Series B GO Bonds Assigned ?AA? Rating Sep 27, 2019. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-York-City-s-Fiscal-2020-Series-B-GO-Bonds-Assigned-AA-Rating-2308872>
  
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