Research Update: New York City's Fiscal 2026 Series A, B, And C General Obligation Bonds Rated 'AA'; Outlook Is Stable

S&P Global Ratings assigned its 'AA? long-term ratings to New York City 's $950 million fiscal 2026A, subseries A-1 (tax-exempt) general obligation (GO) bonds; $582.56 million fiscal 2026B, subseries B-1 (tax-exempt) GO bonds; $227.32 million fiscal 2026B, subseries B-2 (taxable) GO bonds; $15.02 million fiscal 2026C, subseries C-1 (tax-exempt) GO bonds; and $10 million fiscal 2026C, subseries C-2 (taxable) GO bonds. The outlook on all ratings 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 A, subseries A-1; series B, subseries B-1 and B-2; series C, subseries C-1 and C-2 bonds; and the city's GO debt outstanding. The bonds

...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 A, subseries A-1; series B, subseries B-1 and B-2; series C, subseries C-1 and C-2 bonds; and the city's GO debt outstanding. The bonds are being issued as multi-modal bonds in the fixed-rate mode. The city will use proceeds from the fiscal 2026, subseries A-1 bonds to fund citywide capital expenditures. Proceeds from the subseries B-1, subseries B-2, subseries C-1, and subseries C-2 bonds will refund or redeem, at or prior to maturity, certain series of GO bonds previously issued by the city. As of June 30, 2025, the city had approximately $47 billion of GO debt outstanding....

Research Update