Politics
New York City Spared Downgrade by Fitch and Moody’s, for Now
Key Points
New York City Spared Downgrade by Fitch and Moody’s, for Now New York City avoided a debt downgrade Friday by two major credit-rating companies, though both warned the city must take steps to narrow projected deficits or risk a cut — despite the current boom on Wall Street. Fitch Ratings and Moody’s Ratings kept a negative outlook on the city’s $53 billion of general obligation debt in advance of a $1.5 billion bond offering next week.
New York City Spared Downgrade by Fitch and Moody’s, for Now
New York City avoided a debt downgrade Friday by two major credit-rating companies, though both warned the city must take steps to narrow projected deficits or risk a cut — despite the current boom on Wall Street.
Fitch Ratings and Moody’s Ratings kept a negative outlook on the city’s $53 billion of general obligation debt in advance of a $1.5 billion bond offering next week.