Standard&Poor's Ratings Services assigned its 'AA-' rating to New York City's new GO bonds fiscal 2007 series C, subseries C-3 and C-4, and affirmed its 'AA-' rating on the city's parity debt. Key rating factors include the following: The city has a substantial and diverse economic base that has performed in line with national trends. Financial performance has been strong over the past several years. Surplus revenues have enabled the city to both continue prepaying expenses for subsequent budget years and begin to address long-term liabilities, such as retiree health care benefits. A comprehensive financial planning process has helped the city effectively balance its ongoing spending pressures. The city has a long track record of strong and active
