TITLE

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

AUTHOR(S)
Albanese, Elizabeth
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/9/2004, Vol. 350 Issue 32026, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
15317156

 

Related Articles

  • Fitch warns on European transport infrastructure. Brennan, Henry // Fundweb;3/27/2012, p6 

    The article focuses on the warning given by Fitch Ratings Ltd., implying that several transportation hubs of Great Britain will not be able to secure refinancing based on underperformance. In its latest report of 2012, the agency has outlined critical risks faced by projects in the toll roads...

  • Fitch: Leasing of Toll Roads Can Be a Double-Edged Sword. Sanchez, Humberto // Bond Buyer;3/22/2006, Vol. 355 Issue 32344, p40 

    The article reports on the risks facing state and local governments on the sale of long-term leases on toll roads to private corporations in the United States. State and local governments will have to consider credit factors including assessing the value of the road, the pace at which tolls are...

  • Fitch: Better Forecasts, More flexibility Will Stabilize Toll Roads. Sanchez, Humberto // Bond Buyer;4/19/2006, Vol. 356 Issue 32363, p4 

    The article focuses on the account of Fitch Ratings Inc. regarding the solvency of independent toll road projects in the U.S. Attainment of estimated traffic and revenue numbers is the biggest issue of the older toll road projects. Future toll road financings can utilize flexible repayment...

  • OCTA's SR 91 Receives Two-Notch Upgrade from S&P. Webster, Keeley // Bond Buyer;8/7/2014, Vol. 1 Issue 34157, p1 

    The article reports that credit rating agency Standard & Poor's has provided two-notch upgrade to AA-minus to senior-lien toll road bonds issued by the Orange County Transportation Authority of California. It states that S&P also gave the bonds a stable outlook after upgrading the rating from A....

  • Fitch Lowers Calif. Road to Junk Status. Finestone, Deborah // Bond Buyer;2/6/2002, Vol. 339 Issue 31319, p1 

    Reports that rating agency Fitch Ratings Inc. has downgraded $1.8 billion in debt sold by San Joaquin Hills, California's Transportation Corridor Agency. Ratings for the debts before and after change; Change in the rating of senior lien toll road revenue bonds issued by agency in 1993; Impact...

  • San Joaquin Hills On Moody's Watch. Saskal, Rich // Bond Buyer;2/25/2004, Vol. 347 Issue 31828, p2 

    Moody's Investors Service Inc. placed the San Joaquin Hills Transportation Corridor Agency in California on watch list for possible downgrade, as of February 25, 2004. According to Moody's, the action is the result of a decision to delay voting on a plan to combine the San Joaquin Hills agency...

  • Fitch: Start--Up Toll Deals Should Be More Flexible. Sanchez, Humberto // Bond Buyer;10/20/2004, Vol. 350 Issue 31993, p4 

    The article presents a report by Fitch Ratings In. The credit picture for bonds used to finance start-up toll roads would be strengthened if deals were structured with greater financial flexibility, including using maximum levels of liquidity, less frequent toll increases, and lower levels of...

  • Fitch Report: Plenty of Toll Road Debt Coming in 2003. Vadum, Matthew // Bond Buyer;3/4/2003, Vol. 343 Issue 31585, p4 

    Reports that ratings company Fitch Ratings Inc. is estimating that state and local infrastructure bond issuers could issue as much as 12 billion dollar in toll road debt. Need for the toll roads in the U.S.; Possible merger of various companies involved in construction of highways.

  • Toll Roads On Positive Path in 2016, Fitch Says. Watts, Jim // Bondbuyer.com;12/21/2015, p1 

    Smooth sailing is seen for toll road credits in 2016, as positive performance trends are expected to continue in the new year, Fitch says.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics