S&P revised its outlook on Detroit's speculative grade rating to negative from stable Thursday as COVID-19 clouds the city's fiscal prospects.
The S&P CoreLogic Case-Shiller home price index hasn't yet reflected the impact of the coronavirus, but an independent market maker has some thoughts on how it might.
The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.
S&P Global Ratings changed its outlook on Chicago's BBB-plus rating to negative citing financial strains caused by the pandemic.
Fitch Ratings lowered its outlook on Hawaii's AA-plus rating to negative from stable, following a similar action by Moody's earlier this month.
The March losses underscore the fiscal strains for hospitals but many facilities are expected soon to resume elective surgeries and diagnostic procedures.
Venture capital investment has plummeted in many coronavirus-ravaged economies, but larger, profitable fintech firms with the right digital products might still score funding.
The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.
Payments unicorn Stripe contends it has the financial power to apply its technology to coronavirus medical care, remote telework, business funding, and easier onboarding for companies that have been suddenly thrust into an internet existence.
New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.