S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.3 billion fiscal 2020 series D general obligation (GO) bonds, consisting of $800 million tax-exempt fiscal 2020 series D-1, $323.7 million taxable series D-2, and $176.3 million taxable series D-3. At the same time, we assigned our 'AA' long-term rating to New York City's fiscal 2020 series 1 GO bonds that will convert the fiscal 2004 series A and subseries A-4 and A-5 adjustable-rate bonds to fixed-rate mode on March 24, 2020. The outlook is stable. Proceeds from the fiscal 2020 series D bonds will be used to fund capital projects throughout the city. Securing debt service on the series 2020 bonds is New York City's faith
