Entering text into the input field will update the search result below

Moody's revises New York state outlook to negative

  • The state of New York's GO rating is affirmed by Moody's at Aa1 while its outlook is revised to negative from stable.
  • The outlook change reflects Moody's expectation that the crisis will have substantial impacts on state finances and the economy, eating into the state's reserves and straining its ability to structurally balance its budget.
  • Moody's also cites mitigating impacts of substantial federal emergency assistance, which will bolster household income and spending and therefore tax revenue, provide aid to hospitals, reimburse state and local governments for coronavirus-related spending and could potentially provide additional federal Medicaid reimbursement if certain obstacles for New York are overcome.
  • ETFs: NRK, BNY, NAN, MYN

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
NRK--
Nuveen New York AMT - Free Quality Municipal Income Fund
BNY--
BlackRock New York Municipal Income Trust
NAN--
Nuveen New York Quality Municipal Income Fund
MYN--
BlackRock MuniYield New York Quality Fund, Inc.