U.S., New York: Metropolitan Transportation Authority borrows $1 Billion to stave off impending coronavirus fiscal apocalypse

By David Meyer, New York Post; March 18, 2020

The MTA will borrow $1 billion by the end of the week to bolster its bottom line as the coronavirus wreaks havoc on fare revenue, officials said Wednesday.

“The MTA is drawing down $1 billion on its existing line of credit as the authority continues its essential role responding to the COVID-19 pandemic,” agency Chairman Pat Foye said in a statement.

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