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Fitch Upgrades Miami-Dade Expressway Auth, Florida's Revs to 'A'; Outlook Stable

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CHICAGO--(BUSINESS WIRE)--Fitch Ratings has upgraded the ratings for Miami-Dade County Expressway Authority, FL's (MDX) approximately $1.51 billion of outstanding toll revenue bonds to 'A' from 'A-'. The Rating Outlook is Stable. KEY RATING DRIVERS The rating upgrade is driven by a significant increase to MDX's revenue base resulting from the implementation of open road tolling (ORT) initiatives much faster than Fitch had previously anticipated. Revenue in fiscal year 2015 (FY; ended June 30) i

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