NEW YORK (Standard&Poor's) Jan. 8, 2007--Standard&Poor's Ratings Services assigned its 'AA-' rating to New York City's new $100 million GO bonds fiscal 2007 series C, subseries C-3 and C-4, and affirmed its 'AA-' rating on the city's $35.7 billion of parity debt. The outlook is stable. Key rating factors include the city's substantial and diverse economic base, strong financial performance over the past several years, comprehensive financial planning process, and long track record of strong and active budget management. Offsetting credit considerations include an above-average reliance on the financial services sector for resident income and tax revenue, along with a high debt burden by most measures with significant capital funding requirements that have been well managed
