Atlantic City en faillite?

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Atlantic City en faillite?

Message non lu par Monsieur G » 11 mars 2016, 05:07

Atlantic City Could Default in Weeks, Ratings Agency Says

ATLANTIC CITY — Atlantic City could face default as early as April without “drastic action” from the state, a ratings agency warned on Wednesday.

The agency, Moody’s Investors Service, said in an analysis that the city would run out of money in the next few weeks, which could lead to bankruptcy, if two measures are not approved by lawmakers.

The first bill would strip Atlantic City of most of its decision-making power and give New Jersey the right to break contracts and sell off city assets to help get the city’s finances under control. The second would allow casinos to make payments in lieu of taxes.

The bills are backed by the president of the State Senate, Stephen M. Sweeney, a Democrat, and Gov. Chris Christie, a Republican. The speaker of the Assembly, Vincent Prieto, a Democrat, said the bills needed to be changed to ensure that the state could not unilaterally cancel public employee contracts.

Moody’s said the city’s projected $102 million deficit would be cut by 73 percent this year and be almost eliminated by 2020 if both bills passed.

“No matter which scenario ultimately occurs,” Moody’s said in a statement, “Atlantic City’s financial position remains vulnerable to external factors such as further casino closures and deteriorating state finances.”

Reeling from the continuing contraction of the casino industry — its largest employer and taxpayer — Atlantic City could run out of cash within weeks. In January, Mr. Christie vetoed an aid package that would have helped the city and its casinos, saying Atlantic City had not done enough over the years to stabilize its finances.

http://www.nytimes.com/2016/03/10/nyreg ... iness&_r=0
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