- Illinois Tollway Completes Major Tri-State Interchange Project Ahead Of Schedule
- Fitch Finds US Managed Lanes Sector Stable And Resilient
- These are just some of the toll industry developments TRN is following.
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Illinois Tollway Completes Major Tri-State Interchange Project Ahead Of Schedule
Daily Southtown (via Chicago Tribune) reports, “It was called ‘the interchange that time forgot’ and a rarity in the nation’s transportation system, with two interstates crossing over each other but not connecting. But sometime this weekend, the final phase [of work] linking Interstate 57 with Interstate 294 [the Tri-State Tollway] will open to traffic, capping a yearslong project that was completed ahead of schedule and could also spur new economic development in communities near the interchange.” The tollway authority and IDOT completed a first phase of construction in 2014. The four electronically tolled ramps slated to open tomorrow will carry southbound I-57 traffic onto I-294 northbound or southbound, and allow tollway motorists to travel northbound on I-57. The project as a whole cost $719 million.
TheTrucker.com takes an in-depth look at the interchange project and the expectations about its potential to spur economic development in the Chicago Southland region.
Chicago Metro Area Illinois Illinois Department of Transportation (IDOT) Illinois State Toll Highway Authority (IL Tollway)Fitch Finds US Managed Lanes Sector Stable And Resilient
Fitch Ratings finds that the US managed lanes sector “is stable and returning to normal revenue growth,” based on the results of its latest peer review of the toll facilities (subscription required). “Managed lanes have proven resilient after sustaining peak traffic declines of 60%-75% at the height of the pandemic in April 2020,” said Director Anne Tricerri, US Toll Roads Sector Head. Fitch adds, “The sector’s staying power is perhaps most emblematic in facilities serving affluent commuters, which have been the most exposed to traffic loss due to telecommuting. Washington D.C.’s 95 Express, for instance, saw a staggering revenue drop of 90% in April 2020, but has rebounded to well above pre-pandemic levels in recent months. Plenary Roads Denver has not yet reached pre-pandemic levels but has adequate flexibility in its debt structure to sustain a slower recovery.” Fitch upgraded ratings of five facilities, four of which are in Texas and benefit from strong regional population and economic growth.
Company and Agency Financial Issues And Reports Express Lanes Fitch Ratings Highway-Tunnel-Bridge Safety (Includes COVID-19 Impacts) Investment RatingsThese are just some of the toll industry developments TRN is following.
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