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Fitch Corrects Credit Enhanced Ratings on New York City (NY) 2004H-6 & H-8 Bonds and Affirms Ratings

NEW YORK--(BUSINESS WIRE)--An error was found in the rating on the Fitch Ratings' web site for the following bonds:

--New York City (NY) adjustable-rate general obligation bonds series fiscal 2004H-6;

--New York City (NY) adjustable-rate general obligation bonds series fiscal 2004H-8.

The credit enhanced rating for each of these bonds is 'AAA/F1' with a Stable Outlook based jointly on the underlying rating assigned to the bonds (currently rated 'AA'; Stable Outlook) and the support of two separate letters of credit provided by Bank of America, N.A. (currently rated 'A/F1'; Negative Outlook). In addition, Fitch affirms the 'AAA/F1' rating on these bonds.

The rating history now appears correctly on Fitch's web site at 'www.fitchratings.com'.

Additional information is available at www.fitchratings.com.

Applicable Criteria and Related Research

--'Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper' (June 2, 2014);

--'Dual-Party Pay Criteria for Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds' (March 8, 2013).

Applicable Criteria and Related Research:

Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749431

Dual-Party Pay Criteria for Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701572

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=862934

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst:
Richard Park, +1-212-908-0289
Director
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst:
Trudy Zibit, +1-212-908-0689
Managing Director
or
Elizabeth Fogerty, +1-212-908-0526
Media Relations, New York
elizabeth.fogerty@fitchratings.com