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S&P assigns AA rating to N.Y.C. G.O. bonds
Standard & Poor's said it assigned an AA rating to New York City's $965 million fiscal 2009 series A general obligation bonds. The outlook is stable.
Proceeds will fund capital projects.
S&P also affirmed the same rating on $35.3 billion of parity debt outstanding.
On Aug. 20, the city expects to convert $33.45 million of series 2003G, subseries G-5 auction-rate bonds to fixed-rate bonds.
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