NEW YORK (Standard&Poor's) Sept. 5, 2008--Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to New York City's $790 million general obligation (GO) bonds fiscal 2009 series B. At the same time, we affirmed the 'AA' long-term rating, with a stable outlook, on the $35.3 billion parity debt outstanding. "Like all other governments, New York City continues to face risks to its financial plan," said Standard&Poor's credit analyst Robin Prunty. "However, its long-term planning and proactive budget management mitigate these risks at the current rating level," Ms. Prunty added. The city has used surpluses from previous years to manage future budget pressures and to begin addressing long-term liabilities, such as retiree health
