Authority Chairman Patrick Foye cited plummeting revenue as riders stay home because of COVID-19
The municipal finance industry is dealing with minute-by-minute news of state-wide school closures, shuttered restaurants, curfews and canceled events. New issues are increasingly being put on the day-to-day calendar.
The suspension of spectator sports removes two critical revenue streams for the venue in Brooklyn, according to Moody's Investors Service.
Coronavirus is spreading in New York City. But when it comes to real estate, fear of contagion only slightly trumps fear of missing out on a deal.
With a state budget deadline on the horizon, NY Gov. Andrew Cuomo is requesting revised revenue estimates that factor in the economic realities of fast-spreading virus.
Officials at the country's largest municipal healthcare system are tracking COVID-19 costs as they face headwinds from the state and federal governments.
Port Authority of New York and New Jersey Executive Director Rick Cotton plans to maintain day-to-day operations from home after a positive coronavirus test.
Chairman Patrick Foye says that the outbreak has no material effect for now, and the authority promises to continue timely disclosure.
S&P Global Ratings is postponing a March 31 forum on public housing bonds due to concerns about the outbreak of COVID-19.
Issuers tapping the market in uncertain times, but with certainty of low rates.