Fitch Ratings-New York-08 June 2026: On the effective date of June 11, 2026, Fitch Ratings will downgrade the short-term rating assigned to the Harris County, TX, Toll Road System first lien revenue CP notes, series K-2 to ‘F1’ from ‘F1+’. In addition, on the effective date, the short-term ‘F1’ rating will be placed on Rating Watch Positive (RWP). A maximum of $150,000,000 aggregate principal amount of authorized notes may be outstanding at any given time.
The rating action will be in connection with the substitution of the current irrevocable direct-pay letter of credit (LOC) provided by Barclays Bank PLC (AA-/F1+/Stable) supporting the notes with a substitute LOC to be provided by U.S. Bank, National Association (US Bank; A+/F1/RWP).