TITLE

Fitch Cuts Las Vegas Monorail to BB, Citing Declining Ridership Figures

AUTHOR(S)
Cohen, Jackie
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/13/2006, Vol. 355 Issue 32218, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Las Vegas Monorail Co. was downgraded from BBB-minus by Fitch Ratings Inc., with only half the expected ridership and diminished revenue in Nevada. The original goal of the monorail was to provide an alternative to taxis, which are notoriously impossible to hail during mega-conventions like the Consumer Electronics Show. According to analyst Chad Lewis, tourism and conventions continue to grow in the state, but not monorail ridership.
ACCESSION #
19758688

 

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