Downgrades

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 rating agency cited weak demand for the facilities.

Brightline asked S&P to withdraw its rating after the latest downgrade.

Moody's cited the district's narrowing financial position as its available fund balance sank to 4.8% of revenue in fiscal 2025.

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 Texas city, which has been hit with negative rating actions over its water woes, signaled it will issue revenue bonds in its hunt for new supplies.

The downgrade reflects ongoing underperformance in ridership and revenues relative to Kroll's expectations.

The ratings agency revises the outlook to negative

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

Credit pressures are expected to persist for municipal bond issuers facing water scarcity and increasing costs for projects to produce new supply.

"The steps that would be necessary to restore a sound fiscal profile are becoming increasingly drastic," the rating agency said in downgrading Jersey City.

A review Moody's launched in September ended with rating downgrades and negative outlooks for the city's outstanding general obligation and revenue bonds.

Federal immigration and trade policies are a likely factor in the triple-A-rated state's weak job growth and pose risks for its southern border cities' budgets.

Moody's cited the school's weakening liquidity levels in its downgrade.

The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.

Toms River's reluctance to pass a budget could further damage the school's rating, S&P said.

The city of La Marque is taking steps to stabilize its shaky finances after a short-lived debt service payment default and a bond rating downgrade.

The world's biggest opera house has been downgraded for the second time this year.

Hunt Memorial Hospital District's distressed finances led to downgrades to Ba3 by Moody's Ratings and B-plus by S&P Global Ratings, with both giving it a negative outlook.

Moody's has downwardly revised the outlook for Baltimore's issuer rating and several classes of bonds due to a trend of declining fund balance levels in a city dependent on a major international shipping port.