NEW YORK (Standard&Poor's) Aug. 2, 2004—Standard&Poor's Ratings Services today assigned its 'A' rating to New York City's $630 million series C GO bonds, and at the same time, affirmed its 'A' rating on approximately $30 billion of the city's current debt. The outlook is stable. The 'A' rating on the city's outstanding GO debt is based on continued financial and economic recovery, as evidenced by a stronger-than-projected revenue forecast for the current fiscal year and out-years of the financial plan; a substantial and diverse economic base that is performing in-line with national economic trends; strong growth in the city's taxable real estate base, which has been a stabilizing financial factor for the city since the onset
