The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.
The short-term funding for airports and transit agencies in stimulus bills won’t be a substitute for the stability of long term financing.
Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.
They asked for a combined $4.4 billion.
The mayor cited COVID-19 as a spending priority while cases in his city represent more than one-third of the nation's total.
Assured Guaranty and BAM, the two active muni bond insurers, released statements Monday saying they are prepared and able to manage impacts of COVID-19.
New York MTA and 10 other transit systems have cited the crippling effects of ridership drops due to COVID-19.
The funds will be in addition to the $160 million from the Emergency Reserve Fund that the board released March 12.
The timing of a $1.5 billion deal California had planned to price Thursday is no longer firm amid massive dislocations in the markets.
Bear markets come with checklists of savvy moves to make for investment portfolios.