Upgrades for the Road

Williamson, Richard
April 2003
Bond Buyer;4/29/2003, Vol. 344 Issue 31624, p1
Trade Publication
With the possible emergence of North Texas Tollway Authority (NTTA) in the bond market next week, the possibility of rating upgrades on 370 million dollar of new-money and refunding debt has increased. Pricing on 235 million dollar of Series 2003A revenue bonds and 135 million dollar of 2003B revenue refunding bonds is scheduled for May 6, 2003. The money raised from the deal will be used to build the fourth, and final, segment of the President George Bush Tollway across the growing northern suburbs of Dallas, Texas. Rating analysts cited the authority's better-than-expected revenue performance amid aggressive expansion of the tollway system for the improving quality of the credit. The rating upgrade is based on the demonstrated ability of NTTA to build and support its planned expansion projects while maintaining projected solid debt service coverage, as well as the continued strong system growth.


Related Articles

  • Make Room For A Bit Of Doom And Gloom.  // High Yield Report;1/15/2007, Vol. 18 Issue 2, p1 

    The article reports on the results of the North American Distressed Debt Outlook 2007 survey published by Debtwire regarding the expectations of buyers on distressed and high yield credits. Majority of the respondents think that the default rate will top 4 percent in 2008. Moreover, almost all...

  • Web Companies Junk Equity. Lacey, Stephen // Traders Magazine;Nov99, Vol. 12 Issue 159, p26 

    Discusses the interest of publicly traded Internet based companies in debt markets for operating capital. Description on a convertible bond; Trading practice preferred by Internet companies; Comments from Tomas Isakowitz, an analyst at Janney Montgomery Scott.

  • Mutual Fund Investing.  // Physician & Sportsmedicine;Jan2003, Vol. 31 Issue 1, p26 

    Focuses on various mutual funds offered by different financial companies in the U.S. as of January 2003. Details about Alliance's emerging market debt fund; Features of Fidelity's new markets income fund; Benefits of investing in Pimco's emerging markets bond funds.

  • MassPike Debt Crisis Prompts Calls for Toll Hikes, Dismantling. Kaske, Michelle // Bond Buyer;10/6/2008, Vol. 366 Issue 32976, p32 

    The article reports that Mary Connaughton, board member of the Massachusetts Turnpike Authority (MassPike), has called for immediate toll hikes to help boost its debt service coverage on $2.4 billion debt in Massachusetts. Connaughton states that the emergency meeting is intended to bring a...

  • Managers queuing up to buy real estate debt. Jacobius, Arleen // Pensions & Investments;6/13/2011, Vol. 39 Issue 12, p3 

    The article presents information on the growing number and variety of money management firms seeking to invest in the real estate market. According to data from Trepp LLC, about 1.2 trillion to 1.5 trillion dollar of real estate debt will come due and will need to be refinanced over the next...

  • Harder Times Ahead For Distressed Debt. O'Leary, Christopher // High Yield Report;6/13/2005, Vol. 16 Issue 23, p1 

    Reports on the negative effect of amendments to the federal bankruptcy code on high yield bond and distressed debt investors, according to analysts in the U.S. Possibility that the new laws could overturn general industry assumptions about debt issues from bankrupt companies; Longer period of...

  • OVERVIEW.  // Infomat: A Weekly Review;2/1/2002, p1 

    Summarizes the articles included in the February 1, 2002 issue of the periodical 'Infomat.' Increase in foreign investors' purchasing of Canadian securities; Lower percentage of high technology businesses accepted for debt financing; Strong growth in services produced by deposit-accepting...

  • PASSING THE BUCKS. Popovec, Jennifer // Retail Traffic;Mar2006, Vol. 35 Issue 3, p46 

    The article reports on changes in lender attitudes towards debt financing for mixed-use developments in the U.S. in 2006. Key issues discussed include the special provisions and greater flexibility offered by lenders for the debt financing of mixed-use projects and the capability of the...

  • Credit Outlook: The Law of Unintended Consequences. Bennett, Ben // Credit Control;2012, Vol. 33 Issue 4, p42 

    The article discusses some of the challenges facing credit industry in Great Britain that were inadvertently created by well-meaning policy makers due to excessive borrowing. It mentions the responses when credit crisis hit such as the cutting of interest rates by policy makers, thus pumping...


Read the Article


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

Try another library?
Sign out of this library

Other Topics