Moody’s Investors Service last week placed the Chicago Transit Authority’s $2 billion of sales and transfer tax receipts bonds and lease revenue bonds on negative watch, an action that stems from Moody’s downgrade earlier this month of the CTA’s parent agency.

About $2 billion of debt is affected, including $1.9 billion of sales tax bonds that are rated Aa3 and another $89 million of lease revenue bonds that sold through the Chicago Public Building Commission and are rated A2. The CTA’s A2-rated federal grant-backed bonds are not included in Moody’s review.

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