Moody’s Investors Service yesterday downgraded to junk status bonds sold to finance the New York Mets Major League Baseball stadium, citing the diminished credit quality of a surety provider as one of the reasons.

The downgrade to Ba1 with a stable outlook from Baa3 affects $694.8 million of bonds sold by the New York City Industrial Development Agency on behalf of Queens Ballpark Company LLC.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.