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Moody’s Assigns “A1” Rating to CFX’s 2019A and B Sr. Revenue Bonds

Moody’s Investors Service (“Moody’s”) has assigned an “A1” rating to the Central Florida Expressway Authority’s (CFX) 2019 A and B Senior Lien Revenue Bonds. Moody’s also affirmed an “A1” rating on CFX’s senior revenue bonds and an “A2” rating on its junior revenue bonds, concluding that the rating outlook is stable.

The Senior Lien Revenue Bonds, Series 2019 A will finance the cost of purchasing and acquiring the Poinciana Parkway from Osceola County. CFX currently operates the Poinciana Parkway as a non-system project in accordance with the Lease Purchase Agreement between Osceola County and CFX. The Poinciana Parkway is a limited-access toll road running approximately seven miles from the Polk-Osceola County line to Cypress Parkway in Poinciana. The parkway opened in April 2016.

The Senior Lien Revenue Bonds, Series 2019B will be used to fund various system capital improvement projects.

The Moody’s report stated the A1 senior and A2 junior ratings reflect “strong traffic and revenue performance and a proactive approach to undertaking capital improvement and expansion projects.” The report cites the agency’s strong sustained financial metrics and the “strategically vital role CFX plays in the rapidly growing service-oriented economy anchored by theme parks, the tourism industry, as well as by growing healthcare and higher education sectors.”


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