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

Sanchez, Humberto
February 2005
Bond Buyer;2/10/2005, Vol. 351 Issue 32068, p5
Trade Publication
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.


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