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Fitch rates New York City G.O. bonds AA-
Fitch Ratings said it assigned an AA- rating to New York City's $448,025,000 of general obligation bonds, fiscal 2008 series J and K, consisting of $354,155,000 of subseries J-1 tax-exempt bonds, $81.87 million of subseries J-2 taxable bonds and $12 million of series K tax-exempt bonds.
The tax-exempt bonds are scheduled to be sold next week through negotiation. Sale of the taxable bonds is scheduled for March 11 through competitive bid.
Fitch also said it expects to rate an additional $1.3 billion of the city's multi-modal G.O. bonds closer to closing.
In addition, Fitch said it affirmed the AA- rating on about $34 billion of the city's G.O. bonds.
The outlook is stable.
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