NYC Met Opera Gets Downgrade After Timothee Chalamet Dunk (1)

Timothée Chalamet’s controversial claim that “no one cares” about opera touched a nerve. But the actor may not be totally off base — at least when looking at Metropolitan Opera Association’s financial situation.

Moody’s Ratings cut the Met Opera’s debt rating further into junk on Tuesday, lowering it to Caa1 from B3 with a negative outlook. The downgrade reflects the organization’s “pronounced structural deficit” and extraordinary endowment draws totaling $120 million since fiscal 2023 that has eroded its total cash and investments, analyst Debra Roane said in a report.

Without a major cash infusion, such as a significant licensing ...