S&P Global Ratings assigned its 'AA' long-term rating to New York City 's anticipated $1.5 billion fiscal 2027 series A (tax-exempt) general obligation (GO) bonds. The outlook is stable. New York City's faith and credit, including the city's obligation to levy and collect ad valorem taxes without limitation as to rate or amount, secures the fiscal 2027 series A bonds. The city will use the bond proceeds to fund citywide capital expenditures and to pay costs of issuance. As of June 30, 2026, the city had $52.74 billion of GO debt outstanding. The rating reflects New York City's fundamental credit strengths, including a deep, dynamic, and resilient economy and tax base, as well as a robust governance framework that includes
