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

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

Summary: New York City; Appropriations; General Obligation; Joint Criteria; Moral Obligation; Sales Tax - S&P Global Ratings’ Credit Research
Summary: New York City; Appropriations; General Obligation; Joint Criteria; Moral Obligation; Sales Tax
Published Apr 16, 2025
18 pages (7851 words) — Published Apr 16, 2025
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings assigned its 'AA/A-1' dual ratings to New York City's $100 million adjustable-rate general obligation (GO) bonds, fiscal 2025 series G, subseries G-2, and to the city's $100 million adjustable rate GO bonds, fiscal 2025 series G, subseries G-3. Our joint support rating on the city's $200 million GO bonds, fiscal 2017 series A, subseries A-4, which are adjustable-rate bonds that will be reoffered with the substitution of the letter of credit (LOC) currently provided by Citibank N.A. (A+/A-1) for a new liquidity facility in the form of a new standby bond purchase agreement (SBPA) provided by State Street Bank and Trust Co. (AA-/A-1+), effective April 22, 2025, is 'AA/A-1+'. In addition, our joint support rating on the

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##/A-1' dual ratings to New York City's $100 million adjustable-rate general obligation (GO) bonds, fiscal 2025 series G, subseries G-2, and to the city's $100 million adjustable rate GO bonds, fiscal 2025 series G, subseries G-3. + Our joint support rating on the city's $200 million GO bonds, fiscal 2017 series A, subseries A-4, which are adjustable-rate bonds that will be reoffered with the substitution of the letter of credit (LOC) currently provided by Citibank N.A. (A+/A-1) for a new liquidity facility in the form of a new standby bond purchase agreement (SBPA) provided by State Street Bank and Trust Co. (##-/A-1+), effective April 22, 2025, is '##/A-1+'. + In addition, our joint support rating on the city's $200 million GO bonds, fiscal 2014 series I, subseries I-3, which are adjustable-rate bonds that will be reoffered with the substitution of the LOC currently provided by Citibank N.A. (A+/A-1) for a new liquidity facility in the form of a new...

  
Report Type:

Summary

Issuer
New York City
Sector
Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: New York City; Appropriations; General Obligation; Joint Criteria; Moral Obligation; Sales Tax" Apr 16, 2025. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Appropriations-General-Obligation-Joint-Criteria-Moral-Obligation-Sales-Tax-3354378>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: New York City; Appropriations; General Obligation; Joint Criteria; Moral Obligation; Sales Tax Apr 16, 2025. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Appropriations-General-Obligation-Joint-Criteria-Moral-Obligation-Sales-Tax-3354378>
  
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