Cher Public

Moody’s blues

Last week, Moody’s Investor Services delivered yet another piece of yet another piece of bad news for the Metropolitan Opera.  They downgraded the Met’s debt offering one grade from “A3” to “Baa1.”  They justified the lowered rating by pointing to the estimated $22 million dollar operating deficit in the fiscal year ending in July 2014 and the Met’s decision to borrow more money using their Chagall murals as collateral.   Read more »