Fitch Releases Updated Criteria for GARVEE Bonds

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has released updated rating methodology for evaluating debt issued by departments of transportation and transit agencies secured by future federal transportation grants. These bonds are often referred to as grant anticipation revenue vehicles (GARVEE) bonds.

There are no material changes to the criteria, and, as such, Fitch does not envision any impact for its rated GARVEE bonds.

'Leveraging Federal Transportation Grants' is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'.

Leveraging Federal Transportation Grants (Rating Criteria for GARVEE Bonds)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=874011

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Fitch Ratings
Scott Zuchorski
Senior Director
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Fitch Ratings, Inc.
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New York, NY 10004
or
Daniel Adelman
Associate Director
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Media Relations:
Sandro Scenga, +1 212-908-0278
[email protected]

Source: Fitch Ratings

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