Fitch Rates New York City's $817M GO Bonds 'AA'; Stable Outlook

Fitch Ratings has assigned a rating of 'AA' to the following New York City general obligation bonds:

--$584,825,000 tax-exempt bonds, fiscal 2012, subseries D-1;

--$65,000,000 taxable bonds, fiscal 2012, subseries D-2;

--$167,580,000 tax-exempt bonds, fiscal 1994, subseries E-3 and fiscal 2004, subseries H-A.

The tax-exempt bonds will be sold by negotiation and are expected to be delivered on or about Oct. 13, 2011. The taxable bonds will be sold competitively on Sept. 27, 2011.

Proceeds of the fiscal 2012 bonds will be used for capital purposes and the payment of certain cost of issuance. The fiscal 1994 and fiscal 2004 bonds are being offered in conjunction with the conversion of the interest rate on the bonds to a fixed rate to maturity.

Fitch also affirms the 'AA' rating on approximately $41.7 billion of outstanding GO bonds.

The Rating Outlook is Stable.