Affordability: Policy Choices and Credit Implications
Explore how rising costs strain affordability, reshaping credit and budgets from housing to utilities—locally in NYC and across the US.
Affordability is emerging as a defining policy challenge with far-reaching credit implications—from housing and utility costs to regional demographic shifts. Join us as we explore how affordability pressures are reshaping budgets, influencing credit quality, and driving strategic responses across the US, with a spotlight on New York City.
- Affordability was a major topic in the NYC mayoral election. What will it mean for the city’s budget and credit?
- Housing affordability is rising as a policy concern across the U.S.
- Rising insurance and utility costs and implications for affordability
- Will affordability lead to regional demographic shifts?
Speakers
Nick Samuels
Senior Vice President
Moody's Ratings
Frank Mamo
Vice President - Senior Analyst
Moody's Ratings
Michael Wertz
Vice President - Senior Analyst
Moody's Ratings
Sunny Zhu
Assistant Vice President - Analyst
Moody’s Ratings
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Nick Samuels is a Senior Vice President for the States and High Profile Ratings Team covering credits for the state of Texas, New York City, and the District of Columbia.
Prior to joining Moody’s, Nick worked for the National Association of State Budget Officers analyzing state fiscal and expenditure trends. Nick holds a BA degree in government from Skidmore College and a Master’s in Public Administration from the George Washington University.
Frank Mamo is a Vice President, Senior Analyst on Moody’s US Local Government team. He is the state lead for local government ratings in Georgia, covering cities, counties, K-12 school districts, and municipal utilities. Frank’s portfolio also includes Florida and South Carolina local governments. Frank has led a range of research initiatives that assess how demographic, economic and socioeconomic trends influence local government credit quality.
Prior to joining Moody’s, Frank was a tax policy researcher at the Institute on Taxation and Economic Policy as well as the Center on Budget and Policy Priorities in Washington, DC. Frank holds an MPA from Columbia University and a BBA from the University of Iowa.
Michael Wertz is a Vice President/Senior Analyst for the Eastern Local Governments Ratings Team. His primary coverage responsibilities include cities, towns, counties, and school districts in Connecticut and Mississippi, for both of which he is the state lead, as well as New York and various water and sewer utilities throughout the Eastern United States. As a senior member of Moody’s ESG task force, Michael has published commentary on Moody’s approach to incorporating exposure to climate change in local government ratings and on the impact of drought on credit quality. He has also published research about community colleges and city pension reform.
Prior to joining Moody’s, Michael was a public sector consultant focusing on federal and local government projects. Michael holds an MPA from the Maxwell School of Citizenship and Public Affairs at Syracuse University and a BA in Political Science from the University of the Incarnate Word in San Antonio.
Sunny Zhu is currently an Assistant Vice President-Analyst on the State Ratings Team, covering a few states and mass transit issuers on the West Coast. She previously worked on Moody’s Local Governments Ratings Team, covering select California cities, counties, water/sewer enterprises, school districts, and community college districts.
Before joining Moody’s, Sunny worked as a financial advisor for public sector issuers, primarily airports and transportation agencies. Sunny holds a BA in Economics from the University of California, Berkeley.