New York City's $950 million GO bonds fiscal 2004 series G and H have been rated 'A'. The 'A' rating on the city's outstanding $29.7 billion parity debt has been affirmed. The rating reflects: The city's continued financial and economic recovery, which is evidenced by a stronger-than-projected revenue forecast for the current fiscal year and out years of the financial plan; A substantial and diverse economic base, which is on track to recover in line with national economic trends; A strong real estate market that has been a stabilizing economic and financial factor for the city since the onset of the recession in 2001; A well-managed financial program that has proactively responded and closed record budget gaps; and A high
