By Peter Samuel
The Orlando FL area toller OOCEA has a major refinancing in the works - to take advantage of low interest rates and reduce its exposure to an increase in rates. Some $463m of debt is being refinanced and some swaps are being terminated. Total debt of OOCEA is some $2.6 billion.
Fitch and S&P rated the new bonds A, Moody's A2. Moody's has a 'negative' outlook for OOCEA because of the state of the economy and the area's dependence on discretionary entertainment and tourist travel. Fitch and S&P have the toller's outlook 'stable.'