New York City's comptroller wants the mayor to pull the executive order he issued in March, when the city needed to quickly purchase ventilators and other coroavirus-related equipment.
The authority, which Moody’s dropped to A2 from A1, seeks a further $4 billion from Washington and has paused its capital program.
New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.
Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.
To help state and local governments after the COVID-19 pandemic, Cumberland Advisors is proposing a new municipal security.
The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.
Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.
The mayor cited COVID-19 as a spending priority while cases in his city represent more than one-third of the nation's total.
The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.
The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.