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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1 comments
FL Met Fan Rich
FL Met Fan Rich

If they have to depend on game day revenue they are in trouble for 2013. This is going to be the Mets 5th year in a row with a losing season. What is the draw? a battle with the Marlins for 4th place? They would need to play 10 All star games to make a rational Met fan buy a season ticket. I don't think they will sell out a game this year! Why buy a full price ticket when you will be able to go to the secondary market and get them for peanuts.

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