The Revival of Revenue-Risk Highway Public-Private Partnerships

November witnessed the financial close for Cintra/Meridiam’s $3.5 billion revenue-risk public-private partnership (P3) concession to rebuild 22 miles of I-66 in northern Virginia, adding express toll lanes in both directions. The Transportation Infrastructure Finance and Innovation Act (TIFIA) loan and private activity bonds were rated investment-grade by both Fitch and

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