Latest / Albany News Today | 2 Min News | The Daily News Now!
Albany’s Credit Rating Takes a Hit | Albany News
Albany’s credit rating just took a hit, downgraded from A-plus to A with a negative outlook by S&P Global Ratings — signaling tighter financial flexibility as major expenses loom in 2025 and 2026, and reserve funds are dangerously low. Despite a state boost in May, the city’s fund balance is nearly exhausted, leaving little room for surprises. S&P warns further downgrades are likely if Albany doesn’t fix its deficit. Mayor Dorcey Applyrs, former city auditor, acknowledged the downgrade but emphasized steps taken under her leadership are improving the city’s trajectory — while noting many of…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.