Fitch on HPTE PABs (Issued on Behalf of Plenary Roads Denver)

Fitch Ratings “has affirmed its ‘BBB-‘ rating on the $20.4 million series 2014 tax-exempt private activity bonds (PABs) issued by the Colorado High Performance Transportation Enterprise (HPTE) on behalf of Plenary Roads Denver, LLC, (PRD) for the US 36 and I-25 Managed Lanes Project (the project), $60 million [TIFIA] subordinate project loan to PRD for Phase 2 of US 36 (the Phase 2 Loan), and $55.4 million senior TIFIA loan to HPTE, issued for Phase 1 of the US 36 managed lanes (the Phase 1 Loan) and assumed by Plenary Roads upon successful completion of Phase 1 of the project. The Rating Outlook for the PABs and both TIFIA loans is Stable.”