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Article: L.A., Orange County agencies confirmed.(Los Angeles County Metropolitan Transportation Authority, Orange County Transportation Authority bond ratings)
- Article from:
- The Bond Buyer
- Article date:
- January 5, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service confirmed yesterday the ratings for transportation agencies in both Orange and Los Angeles counties, whose funds were diverted last year to help bail out their respective county governments.
State lawmakers siphoned millions of dollars from both the Orange County Transportation Authority and the Los Angeles County Metropolitan Transportation Authority last September. The money was a temporary bailout to plug a multimillion-dollar budget gap suffered by Los Angeles County and to help Orange County heal from its bankruptcy.
Beginning this year, the Orange County transit agency will lose $38 million annually in federal transportation ...