ACAPULCO TOLL ROAD RESTRUCTURING LEAVES SPONSORS, BANKERS WHOLE
Private Mexican toll roads took a beating when the peso collapsed in December 1994. A particularly troubled Cuernavaca-Acapulco toll road concession was recently restructured, sending 85 percent of project debt back to the government while the remaining 15 percent stayed with project contractors. Light traffic due to inflated tolls left the project racing toward default. Banobras--the state development bank--is assuming all debt service shortfalls for 18 to 24 months. Tolls will be reduced to build traffic. This article details the restructuring of the Cuernavaca-Acapulco toll road and outlines the fate of other similar toll road projects.
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/oclc/19598638
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Corporate Authors:
Public Works Financing
147 Elmer Street
Westfield, NJ United States 07090-2433 -
Authors:
- Reinhardt, W G
- Publication Date: 1995-8
Language
- English
Media Info
- Pagination: p. 9-11
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Serial:
- Public Works Financing
- Volume: 87
- Publisher: Public Works Financing
- ISSN: 1068-0748
Subject/Index Terms
- TRT Terms: Collapse; Concessions; Contractors; Economic conditions; Finance; Inflation; Infrastructure; Restructuring; Toll roads
- Geographic Terms: Mexico
- Subject Areas: Aviation; Economics; Finance; Highways; I10: Economics and Administration;
Filing Info
- Accession Number: 00712713
- Record Type: Publication
- Files: TRIS
- Created Date: Oct 13 1995 12:00AM