Massive Illegal Immigrant Expenses May Affect Credit Ratings of NYC, Chicago, Denver: S&P Report

‘Cities on the front line of migrant and asylum seeker inflows will have to face the uncertainty of rising costs,’ say authors.

A group of migrants from Texas wait in line outside Port Authority Bus Terminal to receive humanitarian assistance on August 10, 2022 in New York. - Texas has sent thousands of migrants from the border state into Washington, DC, New York City, and other areas. (Photo by Yuki IWAMURA / AFP) Photo by YUKI IWAMURA/AFP via Getty Images

The spiraling cost of caring for the surging influx of illegal immigrants and asylum seekers could affect the credit ratings of three large American cities, S&P Global Ratings said in a new report.

“State and local governments are shouldering the rapidly growing costs of assisting migrants and asylum seekers as their numbers increase in the U.S.,” the business intelligence company said in its report released on Tuesday. “If this issue remains significant enough for long enough, the increase in costs and social service requirements could affect states’ and local governments’ credit quality.”