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

S&P Global Ratings revised the outlook to stable from negative on New York City's general obligation (GO) and associated appropriation-backed bonds, and affirmed its 'AA' long-term rating on the GO debt outstanding. In addition, we affirmed our 'AA-' underlying rating (SPUR) on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' SPUR on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions, and where the long-term ratings are based on joint support. New York City's faith and credit, including its obligation to levy and

...S&P Global Ratings revised the outlook to stable from negative on New York City's general obligation (GO) and associated appropriation-backed bonds, and affirmed its '##' long-term rating on the GO debt outstanding. In addition, we affirmed our '##-' underlying rating (SPUR) on the city's appropriation debt outstanding, excluding the Hudson Yards Infrastructure Corp.'s (HYIC) second indenture bonds, which we rate 'A+'. We affirmed our 'A+' SPUR on the city's moral obligation debt outstanding. Finally, S&P Global Ratings affirmed its ratings on various issuances where the short-term ratings are based on the liquidity support provided by various financial institutions, and where the long-term ratings are based on joint support. 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 GO debt outstanding. The city has about $38.7 billion of GO debt outstanding....

Summary