August 20, 2020 – In a note issued last week, Moody’s Investor Service opined that reopened schools would be credit positive for New York State, City and the Metropolitan Transportation Authority (MTA).<\/p>\n\n\n\n
The analysts said that reopenings would allow parents to return to work, helping boost sales tax revenues that fund local government, school district and county operations.<\/p>\n\n\n\n
Moody’s noted many offices will remain close, but if schools remained close, a resumption of economy activity could be further delayed.<\/p>\n\n\n\n
With the Empire State is experiencing declining COVID-19 infections – the lowest average daily new infections per 100,000 residents among the 22 largest U.S. cities – Moody’s cautioned infection rates, if they were to increase again, could negatively impact growth in economic activity.<\/p>\n\n\n\n
Following the COVID-19 crisis, Moody’s revised its outlook on New York State and City in April to “negative”, citing many economic uncertainties stemming from the virus outbreak and resultant business closures.<\/p>\n\n\n\n
Contact Caren Moses at CMoses@buymuni.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
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