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Ratings Firms Respond to Tax Reform Measures


top story photo Fitch Ratings and Moody's Investors issued statements in response to the congressional tax bills, with both firms raising concerns about the effects of the legislation, if finally approved, on transportation infrastructure improvements.

Fitch issued a statement that noted, "An otherwise stable outlook for U.S. transportation infrastructure next year will be clouded somewhat by questions surrounding tax reform." The firm added that, "Eliminating PABs would raise airport financing costs…" The "Fitch 2018 Outlook: U.S. Transportation Infrastructure" is available at www.fitchratings.com.

Moody's commented that, "While the tax exempt status of existing financings is unlikely to be affected by the final bill, elimination of private activity bonds under the House version would have negative implications for the sector, as it would increase financing costs for projects and inhibit much-needed infrastructure investment."

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