Two more top bond-rating firms issue dire warning for NYC over Mamdani budget

Source: New York Post

Another two top bond-rating companies have warned that New York City’s finances are looking grim if the freshman mayor’s budget calling for drawing down reserves is enacted. Fitch Ratings and Kroll Bond Rating Agency issued a negative outlook for the Big Apple’s bond rating Friday — following suit with Moody’s. which made the same projection last week.