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12-05-2012, 06:08 PM
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Originally Posted by barneyg View Post
I think it's fair to say that a significant part of those savings are gone, but I took a quick look at a few Glendale bond quotes (Transportation Excise bonds) and they are still trading way above par (at 110-115). So they could still be saving some money, of course that depends on how much they can call the existing bonds for.
I think thats fair to say. What are the Transportation Excise bonds backed by? I think in they haven't factored in the impact of the downgrade.

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