Florida's Turnpike gains dream bond rater accolades
Posted Mon, 2008-01-07 19:12
Fitch Ratings have given Florida DOT a dream bond rating of 'AA-' on account of what they describe as the Turnpike Enterprise's "strong service area", their diversity of toll properties, their "track record of prudent and conservative project development and financial management," and their "proactive stance"
toward raising tolls as needed.
The raters recognize the state legislature also for HB985 enacted in July 2007 which provides for annual indexation of toll rates, without limiting them to that.
Fitch say that the $342m of new (2008A) bonds have the same rating as the existing $2.4b of outstanding debt of the Turnpike Enterprise.
TOLLROADSnews 2008-01-07
Fitch Ratings have given Florida DOT a dream bond rating of 'AA-' on account of what they describe as the Turnpike Enterprise's "strong service area", their diversity of toll properties, their "track record of prudent and conservative project development and financial management," and their "proactive stance" toward raising tolls as needed.The raters recognize the state legislature also for HB985 enacted in July 2007 which provides for annual indexation of toll rates, without limiting them to that.
Fitch say that the $342m of new (2008A) bonds have the same rating as the existing $2.4b of outstanding debt of the Turnpike Enterprise.
TOLLROADSnews 2008-01-07