Fitch to rate private activity revenue bonds of Maryland Light Rail Purple Line P3
Fitch Ratings has assigned a 'BBB(EXP)' expected rating to approximately US$100 million of private activity revenue bonds (PABs) series 2022A (green bonds) and US$509 million of series 2022B PABs (green bonds) issued by Maryland Economic Development Corporation.
The PABs have been issued on behalf of Purple Line Transit Partners LLC (PLTP) for the Purple Line light rail transit (LRT) project. Fitch has rated 'BBB(EXP)' to approximately US$1.8 billion subordinate Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to the transit project.
The rating reflects highly capable contractors, the project's stage of construction, a sufficient construction security package, and well-defined payment mechanism and operating standards.
Country updates
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March 16, 2022
Commercial close reached for Smart Street Lighting PPP project in Washington DC
The District government along with Plenary Infrastructure DC (PIDC) has reached commercial close for the Smart Street Lighting PPP project in Washington DC, the USA. The streetlight mo...
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March 14, 2022
Dorchester County Announces Winner for Rural Broadband PPP Project
The Government of Dorchester County has announced a public-private partnership with both Home Telecom and Palmetto Rural Telephone Cooperative for the expansion of the broadband network across&nb...
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March 14, 2022
PTC to expand fibre optic network project from Harrisburg to Ohio
The Pennsylvania Turnpike Commission (PTC) in the USA is planning to bid three contracts to extend its fiber-optic network west of Harrisburg to the Ohio border with the aim to enhance its communicati...
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March 11, 2022
Construction works completed for I-4 Ultimate PPP Project in Orlando
SGL Constructors, a joint venture of Skanska, Granite and Lane, has finished construction works for the I-4 Ultimate concession in Orlando, the USA. The project involves the development of four&...
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March 10, 2022
Build America provides US$1.5 billion for 495 Northern Extension PPP project in Virginia
U.S. Department of Transportation has announced that the Build America Bureau provided a US$1.05 billion low-interest loan to Capital Beltway Express, LLC. The loan will refinance an existing loan for...
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