Daily News Briefs, June 4, 2024

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Florida's Turnpike Completes ETC Conversion Of Seminole Expressway Segment

Florida’s Turnpike Enterprise (FTE) announced that the implementation of all-electronic toll collection took place on a segment of the Seminole Expressway (SR 417) on Saturday, June 1. Cash is no longer accepted between Aloma Avenue (milepost 38) and I-4 (milepost 55). FTE said the conversion is part of its “ongoing pursuit toward more efficient business operations and customer convenience. Converting to ETC will improve safety and enhance mobility allowing drivers to keep a steady pace while entering and exiting the Seminole Expressway facility by eliminating the need to stop and pay for tolls.”

AET (All-Electronic Tolling) ETC Systems Florida Florida Department of Transportation (FDOT) Florida's Turnpike Enterprise (FTE) SunPass


Fitch Upgrades Rating Of E-470 Highway Authority Bonds

Yesterday, Fitch Ratings upgraded — to ‘A+’ from ‘A’ — its rating on $1.2 billion (includes the current value of accreted interest) of outstanding senior revenue bonds of the E-470 Public Highway Authority in Colorado. The Rating Outlook is Stable. Fitch stated, “The upgrade reflects E-470’s established full traffic recovery since the pandemic and expectations of continued favorable future traffic demand driven by high population growth and the strong economy of the Denver metropolitan region. The expected continued growth in the Denver market allows for sustained financial metrics at the current levels. The Authority maintains a strong financial profile under Fitch’s rating case, with a 10-year (2024-2033) debt service coverage ratio (DSCR) of 2.1x, bolstered by robust liquidity and strong breakeven scenarios, leading to metrics commensurate with the ‘A+’ rating level. The authority further benefits from a sizable liquidity position, with a proactive internal debt and financial management policy. Furthermore, no new money debt issuances are needed to fund the authority’s capital plan. . . .”

Colorado Denver CO Metro Region E-470 Public Highway Authority Fitch Ratings Investment Ratings


These are just some of the toll industry developments TRN is following.

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