"The reality is, if there is a downgrade, it both increases the city borrowing cost — and we certainly borrow a lot for capital projects — and reduces the city’s opportunity to refinance, which it does often.''
A drop in the Big Apple’s credit rating will come with a price tag of up to $200 million right off the bat and could trigger a disastrous chain reaction that costs the city more than $14 billion, a n… [+3323 chars]
