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 Mar 21, 2024
16 pages (6364 words) — Published Mar 21, 2024
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 $1.1 billion fiscal 2024 series D, $163.815 million fiscal 2024 series E, and $15.230 million fiscal 2024 series F general obligation (GO) bonds. At the same time, we assigned our 'AA' long-term rating to each of the following series, which are floating- or adjustable-rate bonds that will be reoffered in fixed-rate mode on April 11, 2024, the conversion date: $108.365 million, fiscal 2006 series I, subseries I-4 GO bonds (variable rate), and $65.020 million, fiscal 2006 series I, subseries I-5 GO bonds (floating rate). At the same time, we affirmed our 'AA' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##' long-term rating to New York City's approximately $1.1 billion fiscal 2024 series D, $163.815 million fiscal 2024 series E, and $15.230 million fiscal 2024 series F general obligation (GO) bonds. + At the same time, we assigned our '##' long-term rating to each of the following series, which are floating- or adjustable-rate bonds that will be reoffered in fixed-rate mode on April 11, 2024, the conversion date: $108.365 million, fiscal 2006 series I, subseries I-4 GO bonds (variable rate), and $65.020 million, fiscal 2006 series I, subseries I-5 GO bonds (floating rate). + At the same time, we affirmed our '##' long-term rating on the city's GO debt and the Hudson Yards Infrastructure Corp.'s revenue bonds outstanding; our '##-' underlying rating (SPUR) on the city's appropriation debt outstanding, and 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...

  
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" Mar 21, 2024. Alacra Store. May 17, 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-3142096>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: New York City; Appropriations; General Obligation; Joint Criteria; Liquidity Facility; Moral Obligation; Sales Tax Mar 21, 2024. New York, NY: Alacra Store. Retrieved May 17, 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-3142096>
  
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