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

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

Summary: Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges - S&P Global Ratings’ Credit Research
Summary: Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges
Published Dec 04, 2020
7 pages (3031 words) — Published Dec 04, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'A-' rating to the Foothill Eastern Transportation Corridor Agency (F/ETCA), Calif.'s pro forma $555 million senior-lien toll road refunding revenue bonds, series 2021A-B, as well as its 'BBB+ rating to F/ETCA's pro forma $223 million junior-lien toll road refunding revenue bonds, series 2021C-D. At the same time, S&P Global Ratings affirmed its 'A-' long-term rating and underlying rating (SPUR) on F/ETCA's senior-lien toll revenue bonds outstanding as well as its 'BBB+' rating on the agency's junior-lien toll revenue bonds outstanding. The outlook is negative. S&P Global Ratings applied its updated criteria, "Global Not-For-Profit Transportation Infrastructure Enterprises: Methodologies And Assumptions," published Nov. 2, 2020, on RatingsDirect, to determine the ratings. Net revenues of F/ETCA toll system

  
Brief Excerpt:

...S&P Global Ratings assigned its 'A-' rating to the Foothill Eastern Transportation Corridor Agency (F/ETCA), Calif.'s pro forma $555 million senior-lien toll road refunding revenue bonds, series 2021A-B, as well as its '###+ rating to F/ETCA's pro forma $223 million junior-lien toll road refunding revenue bonds, series 2021C-D. At the same time, S&P Global Ratings affirmed its 'A-' long-term rating and underlying rating (SPUR) on F/ETCA's senior-lien toll revenue bonds outstanding as well as its '###+' rating on the agency's junior-lien toll revenue bonds outstanding. The outlook is negative. S&P Global Ratings applied its updated criteria, "Global Not-For-Profit Transportation Infrastructure Enterprises: Methodologies And Assumptions," published Nov. 2, 2020, on RatingsDirect, to determine the ratings. Net revenues of F/ETCA toll system secure the agency's toll road revenue bonds; the 2021C and 2021D bonds are on the junior lien. Development impact fees are also pledged to the series 2013...

  
Report Type:

Summary

Issuer
Foothill-Eastern Transp Corridor Agy
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges" Dec 04, 2020. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Foothill-Eastern-Transportation-Corridor-Agency-California-Toll-Roads-Bridges-2565988>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Foothill-Eastern Transportation Corridor Agency, California; Toll Roads Bridges Dec 04, 2020. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Foothill-Eastern-Transportation-Corridor-Agency-California-Toll-Roads-Bridges-2565988>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.