In a resounding vote of confidence, four leading international credit rating agencies—Moody’s Ratings, S&P Global Ratings, Fitch Ratings, and Kroll Bond Rating Agency (KBRA)—have once again affirmed New York City’s strong financial standing and stability under Mayor Eric Adams’ administration.

The agencies assigned double-A category ratings with stable outlooks to the city’s upcoming $1.5 billion General Obligation (GO) Bond sale, reflecting the city’s fiscal resilience, strong revenue performance, and post-pandemic recovery.

Mayor Adams lauded the reaffirmation, emphasizing the city’s economic growth, record-high employment, and declining crime rates.

“As we have repeatedly demonstrated, our administration has skillfully managed New York City’s finances and fully rebounded our economy,” said Mayor Adams.

“Once again, four independent, internationally-recognized credit rating agencies are commending our strong fiscal decisions and the steps we have taken to put New York City on solid financial footing. Thanks to our leadership, our economy has grown to new heights with record-high employment, we’ve rebounded tourism to near record levels, and we are seeing record decreases in crime.”

Since the beginning of the Adams administration, New York City has received GO bond ratings in the AA category 15 times. In February 2023, Fitch Ratings upgraded the city’s credit rating from AA- to AA, citing its strong fiscal management. The agencies’ latest assessments reaffirm the city’s financial strength, helping to attract continued investment in critical infrastructure such as schools, streets, and parks.

Fitch Ratings underscored the city’s post-pandemic financial rebound, stating, “[t]he city experienced record revenue performance and strong recovery coming out of the pandemic, as well as improvement in reserve levels, which will help management navigate future economic downturns.”

Moody’s Ratings pointed to the city’s expanding economy and sound fiscal policies, noting that “the Aa2 issuer rating reflects New York City’s post-pandemic economic recovery, including record-high private employment, positive trends in assessed property values despite commercial real estate challenges, steady tax revenue growth, and strong tourism metrics.”

S&P Global Ratings highlighted New York City’s economic resilience and financial planning, stating that their rating reflects the city’s “[e]conomic dynamism, resiliency, and diversity, with the city holding the status as the largest commercial and population center in the U.S. and a globally recognized economic hub.”

KBRA recognized the city’s financial discipline and adaptability, emphasizing that the stable outlook “…reflects the resilient performance of the [c]ity’s diverse revenue portfolio, underscored by the well-established fiscal oversight and tracking mechanisms.”

The reaffirmation of New York City’s strong credit ratings comes after the release of the Fiscal Year 2026 Preliminary Budget, which includes strategic investments to improve public safety, provide tax relief for working-class New Yorkers, and enhance city infrastructure. These investments were made possible through the Adams administration’s rigorous fiscal management, which achieved $3.4 billion in total savings while setting the stage for long-term economic growth.

With continued recognition from the world’s top credit agencies, New York City remains a financial powerhouse, poised for sustained growth and prosperity.