(Bloomberg) -- New York City's credit rating was
raised by Moody's Investors Service as Wall Street bonuses and a
robust real estate market resulted in a record surplus, allowing
the city to set aside funds to pay down debt and cover future
expenses.
Moody's boosted the most-populous U.S. city's rating on $36
billion of general obligation debt one level to Aa3, its fourth-
highest investment grade, from A1. It is the third upgrade for
the city in the last six weeks, and brings New York's rating to
the AA category at all three rating companies for the first
time. Last month, Standard & Poor's raised its ranking on the
city's debt to AA, while Fitch Ratings boosted its grade to AA-.
Read more at Bloomberg Bonds News
raised by Moody's Investors Service as Wall Street bonuses and a
robust real estate market resulted in a record surplus, allowing
the city to set aside funds to pay down debt and cover future
expenses.
Moody's boosted the most-populous U.S. city's rating on $36
billion of general obligation debt one level to Aa3, its fourth-
highest investment grade, from A1. It is the third upgrade for
the city in the last six weeks, and brings New York's rating to
the AA category at all three rating companies for the first
time. Last month, Standard & Poor's raised its ranking on the
city's debt to AA, while Fitch Ratings boosted its grade to AA-.
Read more at Bloomberg Bonds News
No comments:
Post a Comment