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S&P affirms Buffalo’s A+ bond rating but changes outlook to negative, finance committee told
Summary
S&P Global affirmed the city's A+ general obligation bond rating but revised the outlook to negative because of reserve drawdowns and continued reliance on one-time measures, the committee heard Sept. 23.
S&P Global affirmed Buffalo’s A+ general obligation bond rating but revised the city’s outlook from stable to negative, the city’s deputy controller told the Finance Committee on Sept. 23.
Deputy Controller Delano O’Dell said the S&P review — requested as part of market preparations — attributed the outlook change to “financial challenges following a significant reserve drawdown” and…
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