SAN ANTONIO (AP) — A leading financial rating service has downgraded the credit rating of the company that built and operates the Central Texas toll road notorious for its 85 mph speed limit.
Moody's Investor Service dropped the credit of the SH 130 Concession Co. by four grades because the Texas 130 toll road is carrying traffic about half of what was projected when it opened in October. Moody's spokesman David Jacobson tells the San Antonio Express-News that such a steep downgrade is unusual.
Moody's officials say the fall could continue unless traffic "aggressively" grows in the next two years on the road with the nation's fastest speed limit.
Nevertheless, a Wednesday statement from SH 130 Concession Co. says the developer remains confident the highway will benefit its investors and the people of Texas.
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