Government Issues

Shutdown may imperil bonds backed by fed transit aid

Posted on October 1, 2013

WASHINGTON, D.C. — Bloomberg reported that municipal bonds backed by federal public transit aid are vulnerable to a government shutdown. At least $10 billion of Grant Anticipation Revenue Vehicles sold by states or transit systems and backed by federal highway or transportation aid are outstanding in the $3.7 trillion muni market, according to data compiled by Bloomberg.

A senior credit officer at Moody’s in New York told the news outlet that money will continue to flow to pay debt service on the highway bonds. However, appropriations for the securities through the Federal Transit Administration would be affected by the shutdown. For the full story, click here.

View comments or post a comment on this story. (0 Comments)

More News

San Antonio City Council approves $4.3M funding for VIA

Officials say recent events impacting local gasoline supplies helped shed light on the real need for efficient and attractive public transportation choices.

U.S. DOT awards over $6 million for accessibility research

Agency reviewed a total of 34 proposals and granted the awards in three application technology areas.

ABA voices support for equitable airport access

In a joint letter with the National Limousine Association; Near Airport Parking Industry Trade Assoc.; and the Taxicab, Limousine, Paratransit Assoc., the American Bus Assoc. urged Senate chairmen and ranking members to provide an even playing field with motorcoach access to airports.

A look at the MTA's strategy to improve NYC subway service

The New York City Subway Action Plan involves upgrading track and signaling equipment, addressing water intrusion, a thorough cleaning of the entire subway, and a major upgrade in subway car maintenance that will see car inspections and repairs carried out around the clock.

K. Jane Williams appointed FTA deputy administrator

Prior to joining FTA, Williams was the director of the Washington Area Transit Office in the Maryland Department of Transportation.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close