Fitch Withdraws Credit Enhanced Ratings on New York City 1994E-2 Bonds
--New York City (NY) adjustable-rate general obligation bonds fiscal series 1994E-2.
The Long-Term rating assigned to the bonds has been revised to 'AA'/Stable Outlook based on the underlying rating assigned by Fitch to New York City's general obligation bonds.
The rating withdrawal is in connection with the conversion of the bonds from the Daily Rate Mode to the Fixed Rate Mode and termination of the JPMorgan Chase Bank, N. A. letter of credit (LOC) supporting the bonds. The mandatory tender and termination of the LOC occurred on August 18, 2016.