Nevada Business in Banking & Finance

Fitch cuts credit rating of Las Vegas Monorail bonds
About $450 million of municipal bonds that helped finance the Las Vegas Monorail had their credit rating cut to C from CC by Fitch Ratings, implying that "default of some kind appears imminent or inevitable." The July 2009 debt service payment will probably be drawn from a surety bond provided by Ambac Assurance Corp. for the reserve fund on the first-tier debt, the rating company said in a news release today from New York.
[ source ] http://www.lvrj.com : June 22, 2009 |  Comments: (0)

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