Moody’s Investors Service is giving a high quality rating to $27.5 million in bonds the City of Worcester, MA is set to issue for a new Pawtucket Red Sox (Class AAA; International League) ballpark. (more…)
Tag Archives | moodys
More good news for Royals fans: Ballpark debt trimmed
This won’t get a lot of play with the Royals bringing postseason play to Kansas City for the first time since 1985, but it should: debt refinancing on Kauffman and Arrowhead stadiums will save Jackson County $32 million. (more…)
Provident Bank Park subject of Ramapo FBI raid: officials
An FBI raid on Ramapo City Hall Wednesday led to seized hard drives and documents relating to alleged corruption in the city, including the building and financing of Provident Bank Park. From Newsday: FBI spokesman Jim Margolin confirmed the raid, but would not answer questions. A law enforcement source with knowledge of the investigation said […]
Citi Field revenues down again in 2012
For the third straight year revenues were down at Citi Field, as New York Mets ownership struggles to find the right mix between ticket and concession prices. Newsday obtained the team’s revenue statement via FOIA; the statement is a requirement of the bonding deal that funded ballpark construction. In 2012 ballpark revenue for the Mets […]
Citi Field debt downgraded by Moody’s because of Mets-Madoff connection
More bad news for Fred Wilpon and Saul Katz: debt of Citi Field has been downgraded by Moody’s because of concerns over ties between the New York Mets ownership and disgraced felon Bernie Madoff, as well as an impending clawback lawsuit. “While the ultimate outcome of the litigation and the timeframe for final resolution are […]