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's Capitol Hill forum addresses benefits of public transportation investment

The forum comes as Trump's proposed budget would cut the US DOT's budget by $2.4 billion and severely impact the Capital Investment Grants and TIGER programs.

Sen. Schumer calls on Congress to work together on $1T infrastructure bill

Speaking at a news conference in front of Penn Station, Schumer’s push for lawmakers to act in a bipartisan fashion comes after two train derailments in the past two weeks that caused massive delays for commuters.

APTA issues 'alert' to contact Congress to support capital grant program

The Capital Investment Grant (CIG) program would be phased out in President Trump's FY 2018 "skinny budget" proposal.

Calif.'s $52B budget proposes fee boost to pay for public transit

The deal, which could be voted on by the legislature as soon as next week, isn’t perfect but long overdue, said Gov. Brown.

Strong local leadership key to successful transportation systems

A new handbook draws on examples from over thirty cities and outlines nearly two dozen policies and strategies that mayors and transportation agency leaders can use to improve urban 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