Florida's Brightline Train Rolling Over $985 Million Debt at 15%
Investors were watching the debt move as low ridership and lagging revenue projections have created financial hurdles for the rail project, leading S&P Global Ratings and Fitch Ratings to downgrade Brightline's senior muni bonds deeper into junk. The company decided to delay an interest payment on $1.2 billion of municipal bonds in July, causing investors to worry about the remarketing.
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