Northeast

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.

Questions about the impact of COVID-19 surround the state-run authority, which operates New York City transit and is one of the largest municipal issuers.

State Comptroller Thomas DiNapoli released updated state revenue projections.

Authority Chairman Patrick Foye cited plummeting revenue as riders stay home because of COVID-19

The mall and entertainment venue shut its doors to combat the spread of the novel coronavirus, five months after its partial opening.

"I think it's way too early to determine how we're going to adjust the budget," the mayor said.

The municipal finance industry is dealing with minute-by-minute news of state-wide school closures, shuttered restaurants, curfews and canceled events. New issues are increasingly being put on the day-to-day calendar.

Gov. Chris Sununu is preparing contingency plans as virus threatens state revenues.

Controversy over state borrowing levels and how to backstop COVID-19 measures surrounded a two-year, $4.7 billion bond authorization bill that Gov. Ned Lamont signed.

The suspension of spectator sports removes two critical revenue streams for the venue in Brooklyn, according to Moody's Investors Service.