Standard&Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook to New York City's series 2013D and 2013E general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA' rating on the related parity debt outstanding. The outlook is stable. Credit factors supporting the GO rating include what we view as: New York City's substantial and diverse economic base. After a period of economic retrenchment caused by the national recession, which affected employment, income, and the overall real estate market, economic trends have improved and, on a percent basis, the city has recovered all of the private sector jobs lost in the recession and has been recovering at a faster pace than the nation
