Daily News Briefs, September 6, 2019

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The Trump Infrastructure Plan Lives, at Least in Argentina

Reuters reports, “The United States has approved a $400 million highway investment in Argentina as President Donald Trump’s eldest daughter Ivanka Trump visits the South American nation on a wider tour of the region. . . . The Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance body, said its directors had approved the financing to expand and upgrade an 876-km (544-mile) toll road stretching from Buenos Aires to the Chilean border to the west of the country.”

A Buenos Aires Times’ article notes, “The [investment] announcement comes less than eight weeks away from the October 27 election, in which President Mauricio Macri — a personal friend of US President Donald Trump — looks set to lose to Peronist opposition candidate Alberto Fernández.”

Visit the website for the Vial Andes 7 toll road. (It’s not “Vial Andres,” as stated in OPIC’s information summary.)

Argentina Infrastructure Investment Trends US Gov't Transportation Funding


Downward Trend in Sault Ste. Marie Bridge Crossings Continues

SooToday.com carries an International Bridge Administration news release announcing that Sault Ste. Marie bridge has recorded 917,946 crossings during this calendar year through August 31, a drop of 7.44 percent when compared with the same period of 2018. IBA adds that one-way crossings of the bridge totaled 151,361 last month, a decrease of 3.1 per cent (4,893 crossings) compared with the August 2018 count.

Canada Company and Agency Financial Issues And Reports Federal Bridge Corporation International Bridge Administration (Sault Ste. Marie International Bridge) Ltd. (Canada) Michigan Michigan Department of Transportation (MDOT) Ontario


A Further Progress Report on OCTA's I-405 Widening Project

Daily Pilot (via Los Angeles Times) has a further update on the progress of the 405 Freeway bridge replacements that are making possible an expansion of the freeway that will include new express lanes.

405 Express Lanes (OCTA) California Los Angeles (CA) Metro Region Orange County Transportation Authority (CA)


Fitch Upgrades Its Rating of E-470 Senior Revenue Bonds

Fitch Ratings upgraded the ratings on the E-470 Public Highway Authority’s outstanding senior revenue bonds to ‘A’ from ‘BBB+’, an action that affects $677 million ($1.41 billion including current value of accreted interest) of senior revenue debt outstanding. The Rating Outlook is Stable. Fitch’s announcement states, in part, “The upgrade reflects E-470’s continued strong traffic and revenue performance, which have led to higher than anticipated debt service coverage ratios and lower leverage, as well as nearly no reliance on future revenue growth to meet the escalating debt service profile and no anticipated future debt for capital needs.”

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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