Moody’s Ratings has revised the Central Florida Expressway Authority’s (CFX) ratings outlook to positive from stable and assigned the agency an ‘A1’ rating for its $145.4 million Senior Lien Revenue Bonds (Series 2024A), and $215.6 million Senior Lien Revenue Bonds (Series 2024B). Moody’s also affirmed their A1 rating on CFX’s senior lien debt outstanding, and an A2 rating on the agency’s junior lien debt outstanding.
In their July 17, 2024 announcement, Moody’s Ratings said, “the positive outlook reflects our expectation that the expansion of the service area economy will continue to spur traffic and toll revenue growth. It also incorporates our expectation that CFX will continue to implement its large work plan to deal with this increased demand in a prudent manner in order to still keep strong metrics.”
Read the full outlook: July-2024_Rating_Action-Moodys-Ratings-revises-outlook-17Jul2024-PR_908704993.pdf