Moody's Investors Service lowered its outlook on Syracuse, N.Y., citing the city's budget gaps and the mayor's hints that bankruptcy could be an option, Dow Jones DBR Small Cap reported today. Moody's rates the city's general obligation debt at A1, four notches short of the highest rating, reflecting the large projected budgetary gaps in fiscal 2014 and 2015 that could sap the city's reserves and weaken its financial flexibility.
