REFILE: Mamdani says Moody's NYC downgrade is 'premature'

Record ID: 2363763

  • Title: REFILE: Mamdani says Moody's NYC downgrade is 'premature'
  • Date: 12th March 2026
  • Summary: CARACAS, VENEZUELA (MARCH 12, 2026) (REUTERS) UNIVERSITY WORKERS PROTESTING OUTSIDE THE NATIONAL ASSEMBLY FOR BETTER WAGES NATIONAL GUARD OFFICERS WITH RIOT EQUIPMENT OUTSIDE THE NATIONAL ASSEMBLY PROTESTER HOLDING A BEEF BONE PROTESTER HOLDING A SKELETON MODEL PROTESTER HOLDING SKELETON MODEL WITH SIGN READING (Spanish). “Republic of hunger” (SOUNDBITE) (Spanish) FOREIGN
  • Embargoed:
  • Keywords: Mamdani Moody's New York City downgrade mayor negative outlook ratings stable
  • Location: VARIOUS
  • City: VARIOUS
  • Country: US
  • Topics: Company News Markets,Economic Events,North America
  • Reuters ID: LVA005344512032026RP1
  • Aspect Ratio: 16:9
  • Story Text: New York City Mayor Zohran Mamdani on Thursday (March 12) said Moody's decision to revise the city's outlook was "premature," pointing to proposed state funding that he said could help close the budget gap.
    Speaking at a press conference, Mamdani said budget proposals from the New York Senate and Assembly reflected a commitment to helping the city address what he described as an inherited fiscal deficit while preserving key services.
    He noted that Moody's maintained the city's Aa2 credit rating.
    Moody’s Ratings revised New York City’s outlook on Tuesday (March 11) to “negative” from “stable,” pointing to the “emergence of sizable and persistent projected budget gaps that signal underlying structural imbalance and reduced financial flexibility.”
    The credit agency noted that New York City's economic conditions were “still favorable.” 
    (Production: Christine Kiernan) 
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