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Annual debt service could spike to $4 billion by 2024, or up 55% since 2019, making up 24% of the agency's total revenues, Thomas DiNapoli said.
October 13 -
Adam Andrzejewski, CEO of OpenTheBooks.com, cites years of reckless spending and mismanagement. Paul Burton hosts. (14 minutes)
October 13 -
The transit authority, reeling from the effects of the coronavirus, takes another hit from Wall Street.
October 6 -
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.
October 2 -
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.
October 2 -
The rating agency lowered GO and other credits, citing the effects of the coronavirus.
October 1 -
The move by New York's mayor could precede more citywide action in the absence of federal rescue aid or state-authorized long-term borrowing.
September 16 -
New York's law permitting municipalities to extend rollover periods on bond anticipation notes provides budget flexibility, but it's unclear how it will impact long-term debt.
September 8 -
Municipal bond volume kept rolling in August, producing the second-highest volume for the month in the past decade, marking the third consecutive month this year of greater-than $40 billion.
August 31 -
The mass transit agency, its finances reeling from the coronavirus, rejected bids from 10 different banks and sold $451 million of notes to the Municipal Liquidity Facility.
August 19