Moody's Cuts Toll Agency Debt to Junk

Saskal, Rich
May 2004
Bond Buyer;5/26/2004, Vol. 348 Issue 31892, p1
Trade Publication
Reports that the San Joaquin Hills Transportation Corridor Agency lost its last investment-grade rating as Moody's Investors Service dropped the California agency's $1.9 billion of non-recourse toll revenue bonds to Ba2 from Baa3. Apparent demise of a restructuring plan to merge the highway, which has fallen far short of traffic and revenue projections, with another, financially healthier Orange County toll road.


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