Downgrades

The COVID-19 pandemic has dragged the tourist city to the verge of junk status.

Size, timing and structure hinge on market variables, senior manager Jefferies said.

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

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

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.

S&P cited the state's growing structural budget gap resulting from an oil price plunge.

Shifts in smoking habits and increasing tobacco restrictions drove two downgrades of the New Jersey Cigarette Tax Revenue Bonds.

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.

A shutdown of large public gatherings due to virus's pandemic cost the Manhattan cultural organization its investment grade rating.

S&P cut the senior water and sewer bond rating to AA-plus due to fallout from the recent failed attempt to sell Florida's largest utility.