Moody’s Ratings has upgraded the Central Florida Expressway Authority’s (CFX) senior lien revenue bonds to ‘Aa3’ from ‘A1’ and junior lien revenue bonds to ‘A1’ from ‘A2’ with an outlook revised to stable.
In their July 22, 2025 announcement, Moody’s said the positive ratings reflect their view that “CFX’s importance as a regional transportation network continues to grow and that revenue increases will outweigh the negative impacts from capital needs, resulting in overall strong financial metrics.” Moody’s further stated, “the ‘Aa3’ senior and ‘A1’ junior ratings reflect CFX’s strong traffic and revenue performance that together with a proactive approach to undertaking capital improvements and expansion projects to serve a rapidly growing service area result in overall strong financial metrics.”
Moody’s also noted that CFX’s stable outlook, “reflects our expectation that traffic and revenue will continue to grow given the expansion of CFX’s service area,” and that, “CFX will continue to implement its large work plan to deal with this increased demand in a prudent manner in order to still keep strong metrics.”