Fitch: NYC bond outlook "stable"

CELESTE KATZ

The city's credit outlook is on stable footing thanks to conservative revenue estimates, tight monitoring, and a deal with the teachers' union that eases uncertainty about the future, a top rating agency said Thursday.

The Fitch "AA" rating on about $850 million in fiscal year 2014 Series J and K bonds also applies to $41.9 billion in outstanding NYC general obligation bonds.

The highest possible rating is AAA.

City Hall, unsurprisingly, cheered the news.

http://www.nydailynews.com/blogs/dailypolitics/fitch-nyc-bond-outlook-stable-blog-entry-1.1818200