Harris County, Tex., Toll Road Debt Boosted to A-Plus by Fitch Ratings

Albanese, Elizabeth
December 2004
Bond Buyer;12/9/2004, Vol. 350 Issue 32026, p4
Trade Publication
The article reports that Fitch Ratings Inc. yesterday upgraded to A-plus from A the rating for $986 million of senior-lien toll revenue debt issued on behalf of the Harris County, Texas, Toll Road Authority. The agency also affirmed the rating for the authority's $806 million of outstanding unlimited tax and subordinate-lien toll road revenue bonds. Unlike the senior-lien debt, which is secured by net toll revenues of pooled system assets, the subordinate bonds are backed by the county's general obligation pledge. Harris County finance director Edwin Harrison said that while he appreciates the upgrade, he believes the toll system should be rated higher.


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