Fitch: Las Vegas Monorail (Nevada) 1st Tier Project Revs Remain at … - MarketWatch
June 21, 2008 - Posted in Expedia Travel, Videos
With higher than expected sensitivity to the fare increase and an
overall lower base of ridership, fare revenues continue to be
insufficient to meet the monorail's debt service obligations. After
the recent July 2008 debt service payment, debt service reserve fund
amounts are $35.1 million and $8.5 million for the first and second
tiers, respectively. Beginning in January 2008 and continuing in July
2008 there have been draws from the first Read the rest of this entry »