I-4 Mobility Partners -- Moody's assigns definitive Baa1 to I-4 Mobility Partners' senior construction and subordinate TIFIA loans

New York, December 05, 2014 -- Moody's Investors Service, ("Moody's") has assigned a definitive Baa1 rating to I-4 Mobility Partners' (borrower) $484 million senior construction bank loan, $127 million of short term Tranche A TIFIA loans, and $822 million of long term Tranche B TIFIA loans upon a review of the finalize closing documents. The loans will fund the reconstruction and expansion of a 21 mile segment of Interstate 4 through Orlando, FL including adding 2 managed lanes in each direction. The project is being procured under an availability-payment based public-private partnership (PPP) agreement with payments being made by the State of Florida (GO rated Aa1 stable). The total project costs, inclusive of $2.32 billion of construction costs, will also be funded with $1.7 billion of government capital payments, $688 million of which are paid at or shortly after Final Acceptance, from the Florida Department of Transportation (FDOT) and $104 million of equity. The outlook is stable.

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