Moody's revises NYC's outlook to negative; affirms issuer rating

Moody's Cuts New York City's Rating Outlook Despite Mamdani Protests

Moody's Cuts New York City's Rating Outlook Despite Mamdani Protests The only surprise is that the move came so late.  With New York City facing a historic fiscal crisis courtesy of its new mayor, late on Wednesday Moody’s lowered its outlook on New York City to negative, citing the “sizable and persistent” budget shortfalls it’s facing. The move, which usually precedes a ratings cut in the subsequent several months, came as the ratings company also affirmed its Aa2 rating on th...

By Tyler Durden