Tuesday, November 18, 2008
For Immediate Release
202) 496-4816 email@example.com
Industry Leaders Address Transit Leasing
Press Avail To Be Held on Tuesday, November 18 at 9:00 a.m.
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
Board Meeting Room, Lobby Level
600 Fifth Street, N.W.
Corner of Fifth and F Street)
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.
APTA is a nonprofit international association of more than 1,500 member organizations including public transportation systems; planning, design, construction and finance firms; product and service providers; academic institutions; and state associations and departments of transportation. APTA members serve the public interest by providing safe, efficient and economical public transportation services and products. APTA members serve more than 90 percent of persons using public transportation in the United States and Canada.