Publish Date: 
Friday, December 8, 2017 - 11:45am

BRIGHTLINE HAS RECEIVED A NON-INVESTMENT GRADE RATING ON $600 MILLION IN REVENUE BONDS THAT ARE TO BE ISSUED BY THE FLORIDA DEPARTMENT FINANCE CORP. Fitch Ratings, which was hired by Brightline's owner All Aboard Florida to rate the bonds, rated the bonds BB- last week.

Fitch had stated the bonds' relatively low grade "reflects Brightline's standing as a new-market, US luxury rail project that exhibits uncertain demand and revenue generation potential." He also commented that the service also pointed to the uncertain nature of the market's "willingness to pay" for the luxury rail as opposed to use of passenger cars.

The Fitch analysts also wrote, "The robust level of ancillary revenues provides additional uncertainty in regards to obtainable revenue levels."

Read more about the analysis here.

Original Article written by Miami Today.