Moody downgrades New York, warns of long return to normal

Bloomberg/Danielle Moran and Martin Z. Braun

“New York City and state both had their credit ratings lowered Thursday by Moody’s Investors Service, which said the impact from the coronavirus on the most populous U.S. city — the core of the state’s economic engine — is among the most severe in the nation.”

USAGOLD note:  We can only hope that the NYC/New York downgrade is an aberration and not the start of a trend among America’s large cities. It could make an already difficult situation even more difficult to manage.

Repost from 10-4-2020

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