NEW YORK (Standard&Poor's) April 12, 2005--Standard&Poor's Ratings Services assigned its 'A' rating to New York City's $850 million general obligation bonds fiscal 2005 series M and N, and affirmed its 'A' rating on the city's $32 billion of general obligation debt outstanding. The outlook is stable. The rating reflects the city's continued financial and economic recovery, evidenced by stronger-than-projected revenue performance for the current fiscal year and out-years of the financial plan; substantial and diverse economic base, which is performing in line with national economic trends; and strong growth in the taxable real estate base, which has been a stabilizing financial factor for the city and will continue to be a credit strength due to the
