Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges - S&P Global Ratings’ Credit Research

Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges

Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges - S&P Global Ratings’ Credit Research
Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges
Published Jul 02, 2019
6 pages (2611 words) — Published Jul 02, 2019
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings has assigned its 'A-' long-term rating to Foothill-Eastern Transportation Corridor Agency, Calif.'s (F/ETCA) $125 million senior-lien remarketed 2013B-2 bonds. In addition, S&P Global Ratings has affirmed its 'A-' and 'BBB+' ratings on F/ETCA's outstanding senior-lien toll road refunding revenue bonds and junior-lien toll road refunding revenue bonds, respectively. The outlook is stable. The ratings reflect our opinion of a strong enterprise risk profile and strong financial risk profile but also the fact that we have not observed the road's performance through a full economic cycle since its debt restructuring in 2014. The strong enterprise risk profile reflects F/ETCA's characteristics as a toll road asset that provides congestion relief almost exclusively to private (noncommercial) vehicles in a wealthy

  
Brief Excerpt:

...S&P Global Ratings has assigned its 'A-' long-term rating to Foothill-Eastern Transportation Corridor Agency, Calif.'s (F/ETCA) $125 million senior-lien remarketed 2013B-2 bonds. In addition, S&P Global Ratings has affirmed its 'A-' and '###+' ratings on F/ETCA's outstanding senior-lien toll road refunding revenue bonds and junior-lien toll road refunding revenue bonds, respectively. The outlook is stable. The ratings reflect our opinion of a strong enterprise risk profile and strong financial risk profile but also the fact that we have not observed the road's performance through a full economic cycle since its debt restructuring in 2014. The strong enterprise risk profile reflects F/ETCA's characteristics as a toll road asset that provides congestion relief almost exclusively to private (noncommercial) vehicles in a wealthy service area. Meanwhile, the strong financial risk profile reflects continued strong debt service coverage (DSC), limited additional debt plans, and an escalating debt...

  
Report Type:

Full Report

Issuer
Foothill-Eastern Transp Corridor Agy
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges" Jul 02, 2019. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Foothill-Eastern-Transportation-Corridor-Agency-California-Toll-Roads-Bridges-2259358>
  
APA:
S&P Global Ratings’ Credit Research. (). Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges Jul 02, 2019. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Foothill-Eastern-Transportation-Corridor-Agency-California-Toll-Roads-Bridges-2259358>
  
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