General managers from twelve public transportation systems will be coming to Washington to meet with federal representatives on Capitol Hill to discuss action that needs to be taken to resolve the transit leasing crisis created by the loss of AIG’s credit rating. Prior the Capitol Hill meetings, there will be a press avail.
| What: |
Press Avail on Transit Leasing with Transit Industry Leaders |
| Where: |
WMATA
Board Meeting Room, Lobby Level
600 Fifth Street, N.W.
(Corner of Fifth and F Street)
Washington, DC |
| When: |
Tuesday, November 18, 2008 at 9:00 a.m. |
| Why: |
Public transit systems across the country have been affected by AIG’s loss of a AAA credit rating. This has created a technical default on established transit leasing agreements and banks are now demanding more than $2 billion from 31 public transportation systems nationwide. |