LAX People Mover Bonds Downgraded as Deadline Nears

Fitch Ratings lowered the Skylink project’s bond rating four levels, from BB to B-, as the airport train remains unfinished. The agency said it is nearly certain the 2.25-mile system will not be operating by December 8, a failure that could trigger a technical default and give the contractor or Los Angeles World Airports grounds to issue termination notices.