New Orleans' finances still vulnerable 10 years after Katrina: Moody's

[Yahoo! News]

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Pension, retiree healthcare and debt service costs combined increased nearly 54 percent from 2009 to 2014, from $129 million to $198 million in 2014, Moody's noted, while fixed costs exceeded 30 percent of the city's operating revenues, even as its contribution to its public pensions fell $17.7 million short in fiscal 2014. New Orleans is also dependent on the oil and gas sector, which is volatile, and its population remains about roughly 18 percent below pre-hurricane levels. In addition, after using its reserves to fill budget gaps during the recession, its liquidity is weak, Moody's said.

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