Green Touch Builders | Moody's downgrades Metro transit bonds
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March 27, 2015 By SEO Admin

Moody's downgrades Metro transit bonds

Citing its poor handling of federal grants and the restrictions placed on its spending as a result, Moody’s Investors Service said Friday it has downgraded the Washington Metropolitan Transit Authority’s transit bonds, while revising Metro’s outlook from stable to negative.

“The downgrade reflects a ramp-up by WMATA of short-term debt as a tool to bridge restrictions on its receipt of federal funds, the result of findings from a Federal Transit Administration audit of the Authority’s grant’s…