New York City's Fiscal 2022 Series A GO Bonds Assigned 'AA' Rating

NEW YORK (S&P Global Ratings) Aug. 13, 2021--S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.2 billion fiscal 2022 series A general obligation (GO) bonds: Subseries A-1 in the approximate amount of $950 million (tax exempt), and Subseries A-2 in the approximately amount of $250 million (taxable). At the same time, S&P Global Ratings assigned its 'AA' long-term rating to the city's approximately $89.3 million fiscal 2022 series 1. The outlook is stable. Proceeds from the fiscal 2022 series A bonds will fund various capital expenditures. On Aug. 26, 2021, the conversion date, the fiscal 2006F, subseries F-3 and subseries F-4A GO adjustable-rate bonds will be converted to fixed rate and redesignated as the fiscal

...August 13, 2021 NEW YORK (S&P Global Ratings) Aug. 13, 2021--S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.2 billion fiscal 2022 series A general obligation (GO) bonds: - Subseries A-1 in the approximate amount of $950 million (tax exempt), and - Subseries A-2 in the approximately amount of $250 million (taxable). At the same time, S&P Global Ratings assigned its '##' long-term rating to the city's approximately $89.3 million fiscal 2022 series 1. The outlook is stable. Proceeds from the fiscal 2022 series A bonds will fund various capital expenditures. On Aug. 26, 2021, the conversion date, the fiscal 2006F, subseries F-3 and subseries F-4A GO adjustable-rate bonds will be converted to fixed rate and redesignated as the fiscal 2022 series 1 bonds. On the conversion date, the bonds will be subject to mandatory tender and the letter-of-credit liquidity facilities with Sumitomo Mitsui Banking Corp. will terminate. "The ratings reflect our view of...

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