S&P Global Ratings assigned its 'AA' long-term rating to New York City's $1.38 billion fiscal 2021 series A and series B consisting of the following: Subseries A-1 (approximately $908.1 million, tax-exempt); Subseries A-2 (approximately $160 million, taxable); Subseries B-1 (approximately $168.7 million, tax-exempt); and Subseries B-2 (approximately $144.2 million, taxable). The outlook is stable. Securing the GO obligations is New York City's faith and credit, including its obligation to levy and collect ad valorem taxes without limitation as to rate or amount. Bond proceeds will refund GO bonds outstanding to lower overall debt service requirements. The stable outlook reflects our opinion of the city's strong credit fundamentals, underpinned by its management team and requirement to maintain a balanced budget on
