Ratings for Citi Field Bonds Lowered – NYTimes.com

The bonds are now rated BB, from BB+. That’s two notches below investment grade, junk bonds in the parlance of the debt market.Jodi Hecht, an analyst at Standard & Poor’s, cited “cash flow volatility,” noting that “a large portion” of the money pledged to pay off the bonds is “game-day revenue,” which includes sales of club-seat tickets, concessions and parking.

via Ratings for Citi Field Bonds Lowered – NYTimes.com.

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