TITLE

Bush's Proposed Cuts Put Amtrak on Moody's Watch List

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/10/2005, Vol. 351 Issue 32068, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Moody's Investors Service Inc. placed Amtrak Corp.'s A3 rating on watch list for possible downgrade due to a proposal in U.S. President George W. Bush's fiscal 2006 budget to reduce federal funding for the passenger railroad to $360 million--$840 million less than the amount Congress provided in fiscal 2005. Moody's action directly affects the rail corporation's issuer rating and the ratings for $300 million of Amtrak/Pennsylvania Station tax-exempt lease finance trust certificates, Series 2001, and $100 million of Pennsylvania Economic Development Finance Authority tax-exempt bonds, Series 2001 A.
ACCESSION #
16072679

 

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