April 27, 2006
Higher Stadium Costs
The new Washington D.C. stadium is going to be a bit more costly than anticipated:
Three Wall Street bond rating agencies gave the D.C. baseball stadium project low investment-grade ratings yesterday, saying the $535 million in revenue bonds have narrow coverage from a business tax that will pay for most of the project.
That means higher cost in interest, or in this case, insurance payments.
D.C. officials said they will purchase insurance that will allow the bonds to be sold at an AAA-plus rating.
Posted by David Pinto at
09:09 AM
|
Stadiums
|
TrackBack (0)