2/7 🧵
The immediate hit: a downgrade would bump borrowing rates from 6% to 6.25%, adding $3.6 billion in interest costs on the city's $65.5 billion bond portfolio. But that's just the beginning.
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2/7 🧵
The immediate hit: a downgrade would bump borrowing rates from 6% to 6.25%, adding $3.6 billion in interest costs on the city's $65.5 billion bond portfolio. But that's just the beginning.