...NEW YORK (S&P Global Ratings) May 31, 2016--S&P Global Ratings affirmed its '##+' rating and stable outlook on New York State's general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##' rating on the state's appropriation debt, and 'A+' rating on the state's moral obligation debt. The outlook on all ratings is stable. S&P Global Ratings also affirmed its '###/A-1+' and '##+/A-1+' joint support ratings and its '##/A-1' dual ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions. "We view New York's strong, diverse economy as a key credit strength," said S&P Global Ratings credit analyst Eden Perry. The GO rating reflects what we view as New York State's: + Strong and diverse economy of 19.8 million people, with income levels above the national average, but with a higher-than-average proportion of state income derived from the financial sector; + History of what we consider conservative...
