- Associated Press - Tuesday, April 25, 2017

BLOOMINGTON, Ind. (AP) - Financial concerns about a private company building the Interstate 69 segment from Bloomington to Martinsville have prompted a credit ratings agency to once again downgrade bonds issued for the project.

The Indiana Finance Authority sold $244 million worth of tax-exempt private activity bonds in 2014 on behalf of I-69 Development Partners, the 21-mile section’s private developer.

But The Herald-Times reports (https://bit.ly/2q7xVMa ) that Fitch Ratings recently downgraded the bonds’ rating from “B” to “B-.”

Construction delays spurred Fitch’s previous downgrades of the bonds.

The most recent downgrade was driven by concerns over whether the company that I-69 Development Partners hired to design and build the segment will be able to meet its financial obligations.

Subcontractors have repeatedly halted work due to payment disputes with that company, Isolux Corsan LLC.


Information from: The Herald Times, https://www.heraldtimesonline.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide