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Fitch Rates Oklahoma CIA's $103.8MM Series 2021-3, 4, and 5 TIFIA Loans 'AA-'; Outlook Positive
View allJune 7, 2024
Fitch Ratings has assigned a ‘AA-’ rating to the
Oklahoma Capitol Improvement Authority’s (OCIA) Transportation Infrastructure Finance
and Innovation Act (TIFIA) loan obligations, series 2021-3, series 2021-4 and series 2021-5
(subject to annual appropriation), which are being issued in connection with the U.S.
Department of Transportation’s (US DOT) Rural 2-Lane Advancement and Management
Plan (RAAMP) program:
--$45.2 million TIFIA loan obligation, series 2021-3 (RAAMP Package 3);
--$39.2 million TIFIA loan obligation, series 2021-4 (RAAMP Package 4);
--$29.4 million TIFIA loan obligation, series 2021-5 (RAAMP Package 5).
The TIFIA loans are expected to close on, or around, June 27, 2024. Proceeds will be used
finance the reconstruction and expansion of rural highways within the state of Oklahoma.
The Rating Outlook is Positive.