Fitch

Fitch Ratings affirmed its AA rating on the department's water system revenue bonds as it revised their outlook to negative.

Declining state support and COVID-19-related funding pressures triggered a second downgrade to New Jersey City University in advance of a $52 million borrowing.

Fitch Ratings downgraded Las Vegas a notch to AA-minus

The Fitch downgrade to A-plus from AA-minus affects nearly $2 billion in debt.

The historic nature of how ratings for municipal issuers play out in times of severe volatility is under scrutiny from various market participants.

The rating agency delivered the latest coronavirus-related hit to the city's ratings by cutting its outlook. The city's GO bonds were affirmed at AA.

Early official estimates of current fiscal year revenue drops include $353 million in Arkansas, $396 million in Colorado, $219 in Oklahoma and $224 million in Vermont.

Arlene Bohner has been named Fitch's head of U.S. public finance and will report to Laura Porter.

Analysts expect a drop in trade volume in at least the first two quarters of this year.

If demand to fly declines domestically, it may affect airports' credit ratings, analysts say.