U.S. Public Finance
Today’s municipal market is increasingly complex and challenging. We understand that to make decisions with confidence, you want new insights about credit risk. Whether you are an issuer, intermediary or investor, you need information about this risk that’s based on in-depth market knowledge, forward-looking analyses and transparent criteria. And that’s where our insight is essential.
What We’re Watching As New York City’s Fiscal Realities Bite Into The Big Apple’s Preliminary Fiscal 2027 Budget
S&P Global Ratings believes that, although composed in accordance with the city’s balanced-budget requirements, the New York City mayor’s preliminary budget and five-year financial plan for fiscal years 2026-2030 introduce a combination of structural, one-time, and temporary solutions that could make it difficult to sustain budgetary balance beyond fiscal years 2026 and 2027.
Four U.S. Public Pension Points To Watch In 2026
Driven primarily by positive market returns, U.S. public pension funded ratios have reached an average of over 80% as of fiscal 2025--improving every year since fiscal 2022 and increasing nearly 10 percentage points over this period. S&P Global Ratings expects this momentum will continue in fiscal 2026 given market performance over the first half.
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