NEW YORK (Standard&Poor's) Aug. 7, 2006--Standard&Poor's Ratings Services assigned its 'AA-' rating to New York City's combined $850 million GO bonds fiscal 2007 series A and B. The outlook is stable. Like all other governments, New York City continues to face risks to its financial plan; its long-term planning and proactive budget management, however, mitigate these risks at the current rating level. The city's economy has rebounded steadily over the past two years, with revenues surging well above forecast. This has provided the city the flexibility to manage future budget pressures and begin to address long-term liabilities such as retiree health care costs. New York City's recently released financial plan modification, which includes the fiscal 2007
