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Home > Investor Resources > Tax-Exempt Securities by Issuer > Puerto Rico Highways & Transportation Authority (PRHTA)

Puerto Rico Highways & Transportation Authority (PRHTA)

Puerto Rico Highways & Transportation Authority

Website: http://www.dtop.gov.pr/carretera/index.asp

Credit Ratings

Resolution / Lien
Moody's
S & P
1968 Resolution - Hwy Rev Bonds*
Caa1
B
1998 Resolution - Trsp Rev Bonds*
Caa1
 B 
Junior Trsp Rev Bonds*
Caa2
B
 

Credit Rating Reports on PRHTA

Go to Commonwealth section to access other credit rating reports affecting PRHTA debt
   
Moody's - June 27, 2014
Moody's - September 25, 2012
Standard & Poor's - June 17, 2010
Moody's - June 15, 2010

View prior reports from Credit Rating Agencies

 

Security

Highway Revenue Bonds are payable from gross revenues derived from Commonwealth of Puerto Rico gasoline and other fuel taxes, highway tolls, and certain license fees. Pledged taxes must be used to provide for debt service on the Commonwealth's general obligations and guaranteed debt if and to the extent that other Commonwealth revenues are insufficient for such purpose. However, such other revenues have always been sufficient. The Authority is required to accumulate and maintain a debt service reserve equal to the lesser of the maximum annual debt service on its Highway Revenue Bonds or 10 percent of the principal amount of the bonds outstanding.

Transportation Revenue Bonds are payable out of the excess proceeds after payment of Highway Revenue Bonds plus proceeds derived from an Excise Tax on certain petroleum products of $9.25 per barrel up to a maximum of $120 million annually, in addition to any toll revenues on the Authority's traffic facilities that were not financed with Highway Revenue Bonds.

Functions

The Authority is responsible for the construction, operation and maintenance of Puerto Rico's toll road network, major highways and mass transportation facilities. Revenue Bonds, federal grants and specified tax revenues (after debt service) pro­vide the bulk of financing for the construction of these facilities.

* Excluding Special Facility Revenue Bonds issued to finance the San Juan Lagoon Bridge, payable from toll receipts for the use of the bridge.

Fiscal Agent Under the Bond Resolution:
The Bank of New York

New York, NY

Traffic Engineers:
Roy Jorgensen Association, Inc.

Financial Statements audited by:
Ernst & Young LLP

 
 

Financial Statements and Reports

Preliminary Financial Results for the semester ended March 31, 2014
Audited Financial Statements, Required Supplementary Information and Supplemental Schedules for years ended June 30, 2013 and 2012

Interim Preliminary Financial Results for the quarter ended September 30, 2013

Preliminary Financial Results for the semester ended December 31, 2013 (Revised)

 

Official Statements

Puerto Rico Highways and Transportation Authority - $297,945,000

$253,670,000 - Highway Revenue Refunding Bonds (Series AA)

Consisting of

$188,395,000 (Series AA-1 Bonds)

$65,275,000 (Series AA-2 Bonds)
$44,275,000 Transportation Revenue Refunding Bonds (Series H))

June 17, 2010
Puerto Rico Highways and Transportation Authority - $2,184,860,553
$250,000,000 Transportation Revenue Bonds (Series M)
$1,502,904,943.95 Transportation Revenue Refunding Bonds (Series N)
$431,955,609.05 Highway Revenue Refunding Bonds (Series CC)
February 15, 2007
Puerto Rico Highways and Transportation Authority - $1,499,910,000
$800,000,000 Transportation Revenue Bonds (Series K)
$598,285,000 Transportation Revenue Refunding Bonds (Series L)
$101,625,000 Highway Revenue Refunding Bonds (Series BB)
September 22, 2005
Puerto Rico Highways and Transportation Authority - $628,110,000
$139,875,000 Grant Anticipation Revenue Bonds (Series 2004)
$82,340,000 Transportation Revenue Refunding Bonds (Series I)
$405,895,000 Transportation Revenue Bonds (Series J)
April 7, 2004
Puerto Rico Highways and Transportation Authority - $153,222,270.45
Special Facility Revenue Refunding Bonds, 2003 Series A
(Teodoro Moscoso Bridge)
October 22, 2003
Puerto Rico Highways and Transportation Authority - $1,673,595,000
$717,365,000 Highway Revenue Refunding Bonds (Series AA)
$563,650,000 Transportation Revenue Bonds (Series G)
$72,035,000 Transportation Revenue Refunding Bonds (Series H)
$320,545,000 Subordinated Transportation Revenue Bonds (Series 2003)
April 10, 2003

Puerto Rico Highway and Transportation Authority - $1,103,875,000

$700,855,000 Transportation Revenue Bonds (Series D)
$284,405,000 Transportation Revenue Refunding Bonds (Series E)
$118,615,000 Transportation Revenue Refunding Bonds (Series F)

Supplement to Official Statement

March 24, 2002

Errata Notice Relating to Puerto Rico Highway and Transportation Authority - $1,103,875,000

$700,855,000 Transportation Revenue Bonds (Series D)
$284,405,000 Transportation Revenue Refunding Bonds (Series E)
$118,615,000 Transportation Revenue Refunding Bonds (Series F)
February 7, 2002

Puerto Rico Highway and Transportation Authority - $1,103,875,000

$700,855,000 Transportation Revenue Bonds (Series D)
$284,405,000 Transportation Revenue Refunding Bonds (Series E)
$118,615,000 Transportation Revenue Refunding Bonds (Series F)
January 25, 2002

Puerto Rico Highway and Transportation Authority - $75,050,000
Subordinated Transportation Revenue Bonds (Series 1998)

(Puerto Rico State Infrastructure Bank)

July 23, 1998

Puerto Rico Highway and Transportation Authority - $1,129,643,740
Transportation Revenue Bonds (Series A)
February 26, 1998

1993 Variable Rate Bond Supplement relating to

Puerto Rico Highway and Transportation Authority - $1,161,580,000
$410,290,000 Highway Revenue Bonds (Series W)
$751,290,000 Highway Revenue Refunding Bonds (Series X)
August 10, 1993

Puerto Rico Highway and Transportation Authority - $1,161,580,000
$410,290,000 Highway Revenue Bonds (Series W)
$751,290,000 Highway Revenue Refunding Bonds (Series X)
July 15, 1993

 

Bond Resolutions

Puerto Rico Highways and Transportation Authority Resolution No. 68-18, adopted June 13, 1968, Authorizing and Securing Highway Revenue Bonds
Puerto Rico Highways and Transportation Authority Resolution No. 98-06, adopted February 26, 1998, Authorizing and Securing Transportation Revenue Bonds
 

GDB Contact
Jesús M. García-Rivera

Vice President

Director of Revenue Obligations Financing
Revenue Obligations Department
Tel. (787) 722-2525 x-15250
Fax (787) 728-6835
Email: Jesus.M.Garcia@bgf.gobierno.pr

PRHTA Contact
Enoc F. Ramos-Pérez
Director of Finance
PR Highways and Transportation Authority
PO Box 42007, San Juan, PR 00940-2007
Tel (787)721-8787 x-2700
Fax (787)727-7176
E-mail: eramos@dtop.gov.pr
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