Friday, May 31, 2013

Moody's DOWNGRADES SH 130 by FOUR Notches!!!

Well, the good news is that if it fails completely, at least there's an asset a new owner can purchase:

The company that operates the southern leg of the SH 130 toll road may not have enough money to make loan payments next year. That's the assessment from a major financial group which lowered the company's credit rating.
The 41 mile stretch between south Austin and Seguin opened last fall. Analysts with Moody's Investors Service say that traffic is only half of what was originally projected.
Officials with the sh130 concession company raised more than a billion dollars to build the toll way, with about $400 million coming from a federal loan. A spokesperson for the group says they are working to increase traffic, by lower toll rates for big rigs and working with local economic development groups to attract businesses to the corridor.

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