MTA Bond Buyers Are Like New York Commuters Waiting for a Train.

What do municipal-bond investors have in common with New York commuters stuck waiting for a subway train? Both are likely to keep putting money into the embattled Metropolitan Transportation Authority.

Holders of some of the MTA’s $40 billion of bonds also share the same skepticism as riders over the likelihood of a quick turnaround for the troubled agency, despite a preliminary deal released yesterday by New York City Mayor Bill de Blasio and Governor Andrew Cuomo to boost its finances.

And those investors are the ones who are likely to buy what could amount to $15 billion in new debt that would fund a revamp of the system’s crumbling infrastructure.

Continue reading.

Bloomberg Markets

By Amanda Albright

February 27, 2019, 12:01 PM PST



Copyright © 2024 Bond Case Briefs | bondcasebriefs.com