State of New York

The authority, which Moody’s dropped to A2 from A1, seeks a further $4 billion from Washington and has paused its capital program.

Coronavirus takes its toll on business and sales activity around the states and across the nation.

Fitch follows Moody's in revising the Empire State's debt to negative from stable.

New York’s new state budget provides flexibility to deal with near-term revenue hits from COVID-19, but it has little bandwidth to withstand a deep recession.

Lawmakers approved a 2021 fiscal plan with mechanisms for spending reductions throughout the year because of economic headwinds caused by the COVID-19 pandemic.

Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.

The rating agency expects a 'sudden and severe decline in the city's sales and income taxes' as a hit to the city's budget and economy from the coronavirus crisis.

Lawmakers missed a March 31 deadline to pass an on-time fiscal 2021 spending plan and officials said that the finalized budget might have $10 billion less in state funding to account for expected losses in tax revenues.

Municipal bond issuance was $67.88 billion after the first two months of 2020 and was on pace to easily eclipse the $400 billion mark — then COVID-19 completely turned the market upside down.

He is maintaining his full schedule and working at home, authority officials said.

The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.

Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.

The Medicaid Redesign Team would pare spending on state hospitals by nearly $400 million and projects $1.6 billion in savings overall.

State Comptroller Thomas DiNapoli released updated state revenue projections.

The comptroller, citing projected losses in entertainment and tourism while the city is virtually closed, called for a savings target of 4% of tax levy-funded agency spending.

How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.

With a state budget deadline on the horizon, NY Gov. Andrew Cuomo is requesting revised revenue estimates that factor in the economic realities of fast-spreading virus.

The municipal market was hammered Wednesday by the COVID-19 pandemic with a more than quarter point correction in AAA benchmarks, issuers pulling deals off the shelves and more reports of pricing and evaluation confusion.

Chairman Patrick Foye says that the outbreak has no material effect for now, and the authority promises to continue timely disclosure.

As fear and uncertainty over COVID-19 rapidly grow, it has sent yields for both municipals and Treasuries to never before seen low levels — begging the question if we could see zero or negative yields here in the States?