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December 2, 2009
Gotta Laugh at This One
Develop Don't Destroy Brooklyn thought that this little bit from Moody's rating of the Atlantic Yards arena bonds passed the laugh test, but does it pass the smell test?
Moody's assigns Baa3 to Barclays Center Project Bonds
[no link]...The stable outlook [for the arena bond deal] is based upon the expectation that the Arena will be completed on time and within budget and the expectation that the ArenaCo will achieve projected revenues.
Right, which happens all the time with embattled megaprojects with no proven revenue model.
Posted by lumi at December 2, 2009 6:56 AM