Despite declining attendance, the opera has “uncomonly high donor support,” but Moody’s Investors Service kept its credit rating steady with a negative outlook, The New York Times reports.
The opera’s credit rating was downgraded in 2014 after reporting a $22 million deficit that year.
The Met had a $308 million budget last year and ended its last fiscal year with a $1 million surplus. It averages $148 million in annual donations and is working to cut costs and double the size of its endowment.
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