Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax - S&P Global Ratings’ Credit Research

Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax

Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax - S&P Global Ratings’ Credit Research
Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax
Published Jul 19, 2019
18 pages (8158 words) — Published Jul 19, 2019
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.4 billion fiscal 2020 series A general obligation (GO) bonds, consisting of approximately $800 million tax-exempt fiscal 2020 series A-1, approximately $341 million taxable series A-2, and about $259 million taxable series A-3. We also assigned our 'AA' long-term rating to the following series of bonds that will convert to fixed-rate debt from adjustable rate on or about Aug. 13, 2019: $35 million fiscal 2006 series F, subseries F-4B; $50.5 million fiscal 2006 series H, subseries H-1; $50.5 million fiscal 2006 series H, subseries H-2; and $28.9 million fiscal 2008 series J, subseries J-8. The fiscal 2006 series H, subseries H-1 and H-2 will be remarketed as

  
Brief Excerpt:

...S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.4 billion fiscal 2020 series A general obligation (GO) bonds, consisting of approximately $800 million tax-exempt fiscal 2020 series A-1, approximately $341 million taxable series A-2, and about $259 million taxable series A-3. We also assigned our '##' long-term rating to the following series of bonds that will convert to fixed-rate debt from adjustable rate on or about Aug. 13, 2019: + $35 million fiscal 2006 series F, subseries F-4B; + $50.5 million fiscal 2006 series H, subseries H-1; + $50.5 million fiscal 2006 series H, subseries H-2; and + $28.9 million fiscal 2008 series J, subseries J-8. The fiscal 2006 series H, subseries H-1 and H-2 will be remarketed as one series designated as fiscal 2006 series H, subseries H-A. We also affirmed our '##' underlying rating on all of the city's GO debt outstanding and our '##-' underlying rating on the city's appropriation debt outstanding, excluding the...

  
Report Type:

Summary

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Public Finance, Structured Finance
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax" Jul 19, 2019. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Appropriations-General-Obligation-Joint-Criteria-Liquidity-Facility-Moral-Obligation-Sales-Tax-2268300>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax Jul 19, 2019. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Appropriations-General-Obligation-Joint-Criteria-Liquidity-Facility-Moral-Obligation-Sales-Tax-2268300>
  
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