Metropolitan Transportation Authority News

New York Gov. Cuomo: MTA Needs Plan to Reinvent Transit System

The Metropolitan Transportation Authority should come up with a plan to get the system ready “for the challenges of the next century,” New York Gov. Andrew Cuomo said Wednesday in a letter to the head of the agency. “We have …

New York’s MTA Obtains $200M of Protection With Catastrophe Bonds

The Metropolitan Transportation Authority, which suffered $4.8 billion in damage from Superstorm Sandy last year, obtained $200 million of protection with bonds designed to guard against wreckage linked to storm surges.New York City’s subway operator is paying less than the …

MTA Plans Catastrophe Bond Sale Linked to Storm Damage, S&P Says

The Metropolitan Transportation Authority plans to use bonds designed to help New York City’s subway operator guard against storm surge damage after suffering $4.8 billion in wreckage from Hurricane Sandy.The largest U.S. transit agency will buy protection from MetroCat Re …