Ratings

Three rating agencies now have negative outlooks on New York City. 

A Fitch rating analyst pointed to the school system's elevated long-term liability burden that could be exacerbated by future voter-approved bonds.

The parent of New York's Metropolitan Opera fell deeper into junk-bond status this week, while the New School university has a lower investment-grade rating.

The Aa2 rating was affirmed, but the negative outlook could raise the stakes as New York lawmakers debate the city's budget gap.

At least two local agencies missed debt service payments after the Cook County, Illinois, treasurer's office was unable to issue property tax bills on time.

Los Angeles' weakening fiscal picture and the city utility's exposure to lawsuit liability from the 2025 Palisades fire were cited for the downgrades.

Chicago returns to market March 10 with $800.29 million of general obligation bonds, following bond rating downgrades from Fitch Ratings and KBRA.

Major Texas cities are prepping big bond issues to finance convention center expansions, with Houston hitting the market this week with $1.425 billion of debt.

The ratings agency cited improved operating performance.

Fitch Ratings released a draft of climate vulnerability in rating criteria for public finance issuers that earned a thumbs-up from Municipal Market Analytics.

KBRA and Fitch Ratings downgraded Chicago's general obligation bonds to BBB-plus from A-minus on Wednesday, and both kept their rating outlooks at negative.

The rating agency, which also put the bonds on CreditWatch Negative, cited weakening liquidity and aging assets. 

Moody's Ratings downgraded Parkview Health System's revenue bond rating one notch, to A1 from Aa3, on Friday. It also revised the outlook to stable.

Downgrades of three private universities in the Northeast reflect enrollment pressures facing the higher education sector, particularly in that region.

Fitch's three-notch senior bond downgrade reflects "substantial credit risk."

Foothill-Eastern Transportation Corridor Agency, one of two toll systems operated by The Transportation Corridor Agencies, received a ratings boost to A3.

Moody's Ratings downgraded Fridley Independent School District three notches, to Ba3 from Baa3, and placed its bond ratings under review for downgrade.

The rating agency lifted the state's general obligation and other ratings by a notch, citing well-established and prudent governance practices.

Maryland is currently battling federal job losses and string of financial challenges but is starting the new year with a new triple-A rating on its general obligation bonds complete with a stable outlook.

Fitch Ratings downgraded Nebraska's Regional West Health Services by two notches, lowering its long-term issuer default rating to CCC from B-minus.