Expressways war leaves Kendall Parkway plans in dust

Written by Miami Today on March 5, 2024

The continuing legal battle over who will control Miami-Dade County’s five local toll expressways continues to hold down bond ratings on prior system borrowing, a report issued this week by Fitch Ratings shows. Lower bond ratings lead to higher interest rates.

“While GMX [the state-sponsored Greater Miami Expressway Agency] has taken operational control of the system, there remains lingering uncertainty over the ultimate governance as litigation continues,” the bond rating agency reported. “This poses a unique risk resulting in Fitch’s negative assessment of the authority’s governance structure.”

To obtain access to the rest of this story and every article of this week’s edition and future editions, login to your subscription or click here to subscribe.