Buffalo’s Credit Downgrade Explained | Buffalo News

Buffalo’s credit rating just took a hit, forcing the city to pay more to borrow money—thanks to shaky finances, missed deadlines, and overstepping budgetary limits. While officials say they’re taking steps to rebound, especially with the new fiscal year underway, critics warn the city’s financial health is in serious decline. The mayor’s first budget nearly hit the debt ceiling, and borrowing under a $100 million cap over a decade is seen as risky. With fewer financial tools at their disposal, Buffalo’s path to fiscal stability will take years—and the pressure’s only just beginning. 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/436911537694cf1c