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 underlying issues predate her administration. The city is now under the spotlight, with how it manages its budget in the coming months determining whether its credit rating can recover. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/638c36e3c0137729