Fitch: Managed Lane Ratings Unlikely to Change in Near-Term

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Peer Review of U.S. Managed Lanes (Attribute Assessments and Ratings)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=877097

Subject to stable outlooks, ratings for Fitch's managed lane portfolio are unlikely to change near term, according to a new Fitch Ratings report.

"All transactions in Fitch's portfolio benefit from structural flexibility providing adequate protection against weak ramp up," said Tanya Langman, Director. "Additional positive rating actions are not expected over the near term since six out of seven projects are in various stages of construction or ramp up."

The 2016 Peer Review of U.S. Managed Lanes provides a snapshot of the Fitch-rated U.S. managed lane portfolio, including key rating factors for each rated project.

While no rating changes were made as part of the peer review, a number of key rating factors were revised.

Most stand-alone managed lane projects are rated in the 'BBB' category reflecting the leveraged structures employed. Given the relatively acute competition risks faced by managed lane facilities, it is highly unlikely that ratings above the 'A' category would be assigned, regardless of leverage or any other key rating factors assessments.

For more information, a special report titled "Peer Review of US Managed Lanes" is available on the Fitch Ratings web site at www.fitchratings.com.

Additional information is available at www.fitchratings.com

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160208006057/en/

Fitch Ratings
Tanya Langman
Director
+1-212-908-0716
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Saavan Gatfield
Senior Director
+1-212-908-0542
or
Scott Monroe
Director
+1-415-732-5618
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
[email protected]

Source: Fitch Ratings

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