#Latest news with #pandemicaidBloomberg2 days agoBusinessBloombergUS Public Transit Systems See Ratings Hit as Fiscal Woes MountUS mass-transit agencies are already grappling with weak ridership numbers and evaporating pandemic aid. Now, their credit ratings are under pressure. The San Francisco Bay Area Rapid Transit District was the latest to take a hit when it lost its Aaa rating from Moody's Ratings last week. The system's operations depend heavily on fares, and the dip in daily usage — which has not recovered to pre-pandemic levels — has ballooned its projected budget deficit to as much as $400 million in the upcoming fiscal years.
Bloomberg2 days agoBusinessBloombergUS Public Transit Systems See Ratings Hit as Fiscal Woes MountUS mass-transit agencies are already grappling with weak ridership numbers and evaporating pandemic aid. Now, their credit ratings are under pressure. The San Francisco Bay Area Rapid Transit District was the latest to take a hit when it lost its Aaa rating from Moody's Ratings last week. The system's operations depend heavily on fares, and the dip in daily usage — which has not recovered to pre-pandemic levels — has ballooned its projected budget deficit to as much as $400 million in the upcoming fiscal years.
2 days ago
