New York, March 25, 2016 -- Moody's Investors Service has assigned a letter of credit (LOC) backed Aa1/VMIG 1 rating to the City of New York General Obligation Bonds, Fiscal 2008 Subseries J-8 Bonds (the Bonds). The reinstatement of the LOC backed rating is in conjunction with the conversion of the interest rate on the Bonds from the index rate mode to the weekly rate mode and the provision of a LOC by Sumitomo Mitsui Banking Corporation (the Bank) effective March 29, 2016.
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