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KBRA Releases Rating Report for City of New York, NY General Obligation Bonds

BY Business Wire | MUNICIPAL | 09/25/23 11:49 AM EDT

NEW YORK--(BUSINESS WIRE)-- On September 22, 2023, KBRA assigned a long-term rating of AA+ with a Stable Outlook to The City of New York?s General Obligation Bonds, Fiscal 2024 Series B, consisting of Taxable Social Bonds, Subseries B-1 and Taxable Bonds, Subseries B-2. Concurrently, KBRA affirmed the AA+ rating and Stable Outlook on the City?s outstanding General Obligation Bonds.

To access rating and relevant documents, click here.

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA?s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230925668967/en/

Source: KBRA

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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