Howard Cure Quoted by Bloomberg on NY-NJ Port Authority Debt

July 21, 2010

The sale of $400 million in revenue bonds by the Port Authority of New York and New Jersey may appeal to local investors as New York struggles to pass a budget, said Howard Cure, director of municipal research at Evercore Wealth Management.

"They have a lot of debt issuances on hold, particularly the personal-income tax bonds, until they essentially pass a budget," Cure said. "The fact that there hasn't been a lot of New York state paper makes this pretty attractive."

The Port Authority slashed its 10-year capital spending plan by 17 percent, the article said.