If Moody's is counting city funding for land and infrastructure--and considering the "project" the arena plus infrastructure--it should also count at least some portion of the state's $100 million for infrastructure.
That $131 million figure, nor any other component of equity, is not mentioned in the other ratings agency report on the project, from Standard & Poor's.
According to the Standard & Poor's report:
Of the 220 expected annual events at the arena, 41 will be basketball (excluding playoffs) and the remainder will be concerts, family shows, etc. We believe this expectation to be aggressive.Indeed, they should. After all, the arena sponsors most recently predicted "over 200" events, and the one-time prediction of 225 events a year depended on no competing arenas in either the Meadowlands or Newark.