TITLE

Fitch Affirms Non-Investment-Grade BB-Minus on Florida Toll Bridge Debt

AUTHOR(S)
Sigo, Shelly
PUB. DATE
March 2006
SOURCE
Bond Buyer;3/20/2006, Vol. 355 Issue 32342, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Fitch Ratings Inc. has affirmed its non-investment-grade BB-minus rating on Garcon Point toll bridge in Florida panhandle operated by the Santa Rosa Bay Bridge Authority. Fitch maintained the rating on the Series 1996 outstanding revenue bonds valued at approximately $106 million. The authority failed to meet its rate covenant, which requires debt service coverage of 1.2 times.
ACCESSION #
20255864

 

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