Downgrades

S&P Global Ratings downgrades the Garden State's general obligation bonds one notch to BBB-plus from A-minus.

Financial hits to Atlantic City's hospitality industry from state limitations aimed at curbing the spread of COVID-19 are hindering a state agency reliant on luxury tax revenues to pay debt service on outstanding bonds.

The transit agency — its revenues battered, its credit standing weakened and with no federal rescue aid in sight — looks to borrow its remaining $2.9 billion available through the Municipal Liquidity Facility.

The two-notch lowering to A-minus precedes the transit agency's planned $258 million negotiated sale of transportation revenue refunding green bonds.

The transit authority, reeling from the effects of the coronavirus, takes another hit from Wall Street.

New York State’s first credit downgrade in 17 years is a warning that fiscal changes will be necessary to combat its coronavirus-induced budget crisis, according to observers.

Bond analysts and budget watchdogs say the move underscores the need for the de Blasio administration to look within for efficiencies, even if it receives more federal or state help.

The rating agency lowered GO and other credits, citing the effects of the coronavirus.

Fitch questions Buffalo, N.Y's revenue estimates and says the pandemic forced the city to use much of its reserves.

The drop in tourism amid the coronavirus pandemic has resulted in a downgrade of Hawaii's ratings by Moody’s Investors Service affecting $9 billion in outstanding debt ahead of the state’s plans to price $900 million of taxable bonds Wednesday.