Standard&Poor's Ratings Services assigned its 'A' rating to New York City's $1.25 billion GO bonds fiscal 2005 (tax-exempt and taxable) series D, E, and F, and affirmed its 'A' rating on the city's outstanding GO debt. The rating reflects the city's: Continued financial and economic recovery, evidenced by stronger-than-projected revenue performance for the current fiscal year and out-years of the financial plan; Substantial and diverse economic base, which is performing in line with national economic trends; Strong growth in the taxable real estate base, which has been a stabilizing financial factor for the city since the onset of the recession in 2001; Well-managed financial program, which has proactively responded and closed record budget gaps; and High debt burden
