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

APTA opposes GOP plan to cut mass transit funding

The Republican platform, which stated that public transportation is "an inherently local affair that serves only a small portion of the population," also opposes increasing the federal gas tax.

Columbus plans to 'leap-frog' light rail after Smart City win

Driverless cars are the marquee emblem of the city’s plans, but it will use and test other potential improvements to its bus fleet and on commercial vehicles.

Law would allow transit benefits to apply to Uber, Lyft

The measure would only allow the subsidy to apply to alternative options while Metro undergoes its massive maintenance plan, known as SafeTrack, which began last month and is scheduled to end in March.

Secretive Alphabet unit aims to fix U.S. public transit

Sidewalk Labs, a secretive subsidiary of Alphabet (Google's parent co.), is initially offering its cloud software, called Flow, to Columbus, Ohio, the winner of a recent $50 million Smart City Challenge.

Americans overwhelmingly favor land use, zoning reg changes that support TOD

HNTB America THINKS survey also shows Americans willing to pay higher mortgages and rents to live in transit-oriented areas.

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