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October 25, 2008
Gringcorp Comments on Atlantic Yards Report
Atlantic Yards Report
Grincorp, also know as Gumby Fresh, responded to a post on Atlantic Yards Report concerning Standard & Poor's downgrade of Forest City Enterprises' credit rating:
The rating action was dated October 23rd, so the exemption may have been factored in. To be honest, though, while losing the tax exemption might have depressed FCE's return on the arena deal, the agencies are probably more concerned about the deal happening at all, right now, which suggests a little nervousness at the amount of spending that has gone into AY already.
Posted by steve at October 25, 2008 8:27 AM