S&P Global Ratings assigned its 'AA' long-term rating to New York City 's $1.5 billion fiscal 2026 series D (tax-exempt) general obligation (GO) bonds, $1.29 billion fiscal 2026 subseries E-1 (federally taxable) GO bonds, and $460 million fiscal 2026 subseries E-2 (federally taxable) GO social bonds. The outlook is stable. New York City's faith and credit, including its obligation to levy and collect ad valorem taxes without limitation as to rate or amount, secures the fiscal 2026 series D, subseries E-1, and subseries E-2 bonds. The bonds are being issued as multimodal bonds in fixed-rate mode. The city will use proceeds from the fiscal 2026 series D and subseries E-1 bonds to fund citywide capital expenditures, and will use proceeds
