Metropolitan Transportation Authority

Organizers say the goal is for for technologies to make public transit safer, cleaner and more adaptive.

Despite the coronavirus wrecking havoc all over the world and with the brunt of the damage occurring in the second quarter of the year, municipal bond issuers have sold just over $23 billion more than they did at this time last year.

Marc Pfeffer, chief investment officer at CLS Investments, talks about today’s municipal bond market and looks to the future.

The mass transit agency is staring at a prolonged fiscal calamity with further federal support at a standstill and its $51.5 billion capital program in jeopardy.

The Senate minority leader told advocates to lean on 21 key Republicans. "Everyone has friends and family in other states," he said.

The pandemic's effect on public transportation has revived debate about the role of bicycles, ferries, in-city commuter rail and other alternative modes.

Monday's first phase of emergence from COVID-19 lockdowns will put the city and the Metropolitan Transportation Authority in a national spotlight.

Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.

Investors, while confident long-term about the transit authority, worry about immediate risks, Chairman Patrick Foye said in a letter.

The mass transit system still holds a strong presence despite three bond rating downgrades amid the coronavirus, Chief Financial Officer Robert Foran said.

President Trump named Sarah Feinberg, a former FRA administrator, and Chris Koos of Illinois to the board of the quasi-public national passenger railroad.

Congress should direct more COVID-19 relief dollars to higher ridership systems, think tank Regional Plan Association said.

While their regions, sizes and funding streams vary, several mass transit systems underscored the dire need for additional federal funding.

Bringing bond denominations down to $1,000 would capture goodwill from New York residents and transit riders, said Mitchell Moss of New York University.

The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.

Size, timing and structure hinge on market variables, senior manager Jefferies said.

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

"This is undoubtedly the toughest time in MTA history," said Patrick Foye, who has asked Congress to double its $3.8 billion relief package.

Its series of responses provides a greater understanding of the city’s history, says NYU Wagner's Mitchell Moss.

The authority, which Moody’s dropped to A2 from A1, seeks a further $4 billion from Washington and has paused its capital program.