S&P Global Ratings assigned its 'AA' long-term rating to New York City's approximately $1.08 billion fiscal 2022 series D general obligation (GO) bonds: Subseries D-1 in the approximate amount of $950 million (tax-exempt); and Subseries D-2 in the approximate amount of $130 million (taxable). The outlook is stable. New York City's faith and credit, including its obligation to levy and collect ad valorem taxes without limitation as to rate or amount, secures the fiscal 2022 series D bonds. The city will use transaction proceeds to fund citywide capital expenditures. Following the transactions, the city will have about $38.7 billion of GO debt outstanding. The city is emerging from the pandemic, which could be classified as one of the most difficult
