Moody's positive on MTA finances

Moody's rating agency Monday gave the MTA a stable, positive outlook based on its improved financial situation and a cut in its deficit.

Last week, the MTA's November financial plan showed deficits for 2017 cut to $191 million from the $240 million shortfall forecast in July. There were increases in revenue from the farebox and tolls, as well as real estate taxes. Improved revenue expectations were coupled with savings from the MTA's debt service and pricey paratransit services. Still, Moody's warned that the agency could risk its finances without a "net-zero" labor agreement or the payroll mobility tax instituted in 2009.