capital markets

PANYNJ gets no bids on $300m in short-term notes - capital market deserted by investors

Posted on Thu, 2008-12-04 12:08

The Port Authority New York New Jersey (PANYNJ) got no bids Wednesday for three year notes (bonds) it had on offer, a sign of the breakdown of capital markets.  There was no ceiling on the interest rate or price to put lenders off. Longer term bonds of the PANYNJ are rated Aa3 by Moddy's, AA- by Fitch and S&P.

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