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Toll road company goes broke
Posted: Fri Jun 20, 2014 7:39 am
by Bob Of Burleson
Report: SH 130 Toll Road Company in Danger of Default
by Aman Batheja
The Texas Tribune
The company behind a privately operated Texas toll road that sports the country’s fastest speed limit is dangerously close to defaulting on its debt, according to a credit rating agency.
According to a report released this week by Moody’s Investors Service, the SH 130 Concession Company, which operates the 41-mile southern portion of State Highway 130, is low on cash and scrambling to get an upcoming payment deadline waived,
The private consortium behind the project owes more than $1 billion and lacks the funding to pay off an upcoming debt payment due on June 30, according to the report. The report adds that the company has “depleted all but $3.3 million of available liquidity reserves.”
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Re: Toll road company goes broke
Posted: Fri Jun 20, 2014 8:11 am
by ann jusko
I took the toll road from Hwy 71 east of Austin north a few years ago. It was like being in the twilight zone. Every once in a while, I would see a structure, a barn or a house. But being on that road with not another vehicle in sight was down right spooky. Other than feeling all alone, I did really enjoy avoiding Austin and Roundrock. I think I exited at Georgetown IRC. I have used it heading south last year and there were a few vehicles on the road.
Re: Toll road company goes broke
Posted: Fri Jun 20, 2014 8:16 am
by LibraryLady
I can give them one clue on why they are not flush with money.
I have a NTTA toll device on my car. So far, a charge for driving that road has NEVER shown up on my account. I have driven it less than a dozen times but if lots of NTTA toll folks are using it, they have lost lots of money.
Re: Toll road company goes broke
Posted: Fri Jun 20, 2014 8:21 am
by Bob Of Burleson
I wonder how Chisholm Trail Parkway, the new toll road between Fort Worth and Cleburne, is doing. It opened with much ballyhoo last month but I haven't seen a word on traffic totals. That $16 round trip might discourage a few commuters.
Re: Toll road company goes broke
Posted: Fri Jun 20, 2014 9:21 am
by Sangersteve
The two times I have driven it, destination San Antonio, it saved no time abut did add miles to the trip.
Re: Toll road company goes broke
Posted: Fri Jun 20, 2014 9:25 am
by BigTex
I know traffic in Austin sucks, but going east or west in order to go north or south is counter-intuitive to me.