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Thursday, August 11, 2016

Ind. Gov't. - "Fitch to Monitor Indiana Finance Auth's PABs Following I-69 Completion Delays

That was the heading to this July 20th story at Fitch Ratings.

From BusinessWire on August 5th, a story headed "Fitch Downgrades Indiana Finance Auth's PABs to 'BB'; Bonds Remain on Negative Watch ."

From the Bloomington Herald-Times today, a $$$ long story, with documents, by Michael Reschke headed "Effects on I-69 unclear after downgraded bond rating." The story begins:

I-69 Development Partners has issued default notices to subcontractor Isolux Corsan for failure to promptly pay subcontractors and for falling behind on a remedial completion schedule for Section 5 of Interstate 69.

As a result of those notices, Fitch Ratings has lowered its rating for the Indiana Finance Authority's private activity bonds, issued on behalf of I-69 Development Partners to help finance the project, to junk status.

Posted by Marcia Oddi on August 11, 2016 10:32 AM
Posted to Indiana Government