Transit Downgrade

Williams, Rochelle
September 2003
Bond Buyer;9/5/2003, Vol. 345 Issue 31713, p39
Trade Publication
Reports that Fitch Ratings Inc. lowered its rating as of September for bonds sold by the Santa Clara Valley Transportation Authority from AA to A-plus as of September 5, 2003. Reasons given by Fitch for downgrading the rating of bonds issued by the Transportation Authority; Impact of lowering of the ratings on the Transport Authority; Assertion of management analyst for Santa Clara Valley Transportation Authority Kimberly Koenig that decline in sales tax revenues have negatively impacted operations of the organization.


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