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Summary: New York City; Joint Criteria

Published Jan 26, 2015

3 pages (943 words) — Published Jan 26, 2015

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Abstract:

Standard&Poor's Ratings Services confirmed its 'AAA/A-1+' rating on New York City's fiscal 2009 series B, subseries B-3 general obligation bonds, due to the bank facility being extended to Jan. 15, 2020. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, New York City, and the letter of credit provider, TD Bank N.A. The short-term component of the rating is based solely on the rating on TD Bank N.A. USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009 Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009

Brief Excerpt:

...Standard & Poor's Ratings Services confirmed its '###/A-1+' rating on New York City's fiscal 2009 series B, subseries B-3 general obligation bonds, due to the bank facility being extended to Jan. 15, 2020. The long-term component of the rating is based jointly (assuming low correlation) on the ratings on the obligor, New York City, and the letter of credit provider, TD Bank N.A. The short-term component of the rating is based solely on the rating on TD Bank N.A....

Report Type:

Summary

Issuer

New York City

Sector

Public Finance, Structured Finance

Country

United States

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Summary: New York City; Joint Criteria" Jan 26, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Joint-Criteria-1380761>

APA:	S&P Global Ratings’ Credit Research. (). Summary: New York City; Joint Criteria Jan 26, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-New-York-City-Joint-Criteria-1380761>

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