S&P Global Ratings assigned its 'AA' long-term rating to New York City's $1.5 billion tax-exempt general obligation (GO) bonds, fiscal 2025 series G, subseries G-1, and to the city's $1.75 billion taxable GO bonds, fiscal 2025 series H. Our long-term rating on the city's approximately $70.8 million GO bonds, fiscal 2012 series D, subseries D3-A--which are variable-rate bonds and will be reoffered as fixed-rate bonds on April 29, 2025, the conversion date--is 'AA'. 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 2025 series G and H bonds and its GO debt outstanding. As of Dec. 31, 2024, the
