S&P Downgrades Buffalo Borrowing Ratings, Raising Costs on General Obligation and Short-Term Debt
Updated
Updated · Buffalo News · Jul 14
S&P Downgrades Buffalo Borrowing Ratings, Raising Costs on General Obligation and Short-Term Debt
3 articles · Updated · Buffalo News · Jul 14
Summary
Buffalo’s general obligation and short-term borrowing ratings were cut by S&P Global Ratings, a move that makes the city’s future borrowing more expensive.
S&P kept Buffalo’s bond rating in place but lowered the city’s outlook, signaling weaker expectations even as the current rating was maintained.
The downgrade hits both long-term general obligation debt and short-term borrowing, increasing pressure on the city as it seeks financing.