New York City yesterday formally selected four firms to serve as senior managers for its general obligation bond syndicate, while its Water Authority selected two firms to serve as senior managers for its underwriting team.

The city, which has ranked as the municipal market's largest issuer during the past two years, selected Goldman, Sachs & Co., J.P. Morgan Securities Inc., Merrill Lynch & Co., and Prudential Securities Inc. as senior managers to sell its GO bonds.

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