Summary: Colorado Springs, Colorado/New York City; Combined Utility; General Obligation

S&P Global Ratings lowered its short-term component on New York City's series 2017A-5 and 2017A-6 adjustable variable-rate bonds to 'AA/A-2' from 'AA/A-1'. S&P Global Ratings also lowered its short-term component on Colorado Springs, Colo.'s series 2006B senior-lien variable-rate demand obligations to 'AA+/A-2' from 'AA+/A-1'. The rating action follows S&P Global Ratings' lowering of the ratings on Landesbank Hessen-Thueringen Girozentrale (Helaba) on June 24, 2021. (For more information, please see the article, titled "Various German Banks Downgraded On Persistent Profitability Challenges And Slow Digitalization Progress," published June 24, 2021, on RatingsDirect.) The long-term component of the rating reflects the ratings on their respective obligors. The short-term component of the rating reflects the liquidity facility in the form of a standby-bond-purchase agreement

...Primary Credit Analyst: John C Mante, Chicago + 1 (312) 233 7058; john.mante@spglobal.com Secondary Contact: Thomas G Dunn, New York + 1 (212) 438 1623; thomas.dunn@spglobal.com Research Contributors: Nalini Singh, CRISIL Global Analytical Center, an S&P affiliate, Mumbai Pooja Vador, CRISIL Global Analytical Center, an S&P affiliate, Mumbai...

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