OREANDA-NEWS. Subject to stable outlooks, ratings for Fitch's managed lane portfolio are unlikely to change near term, according to a new Fitch Ratings report.

"All transactions in Fitch's portfolio benefit from structural flexibility providing adequate protection against weak ramp up," said Tanya Langman, Director. "Additional positive rating actions are not expected over the near term since six out of seven projects are in various stages of construction or ramp up."

The 2016 Peer Review of U.S. Managed Lanes provides a snapshot of the Fitch-rated U.S. managed lane portfolio, including key rating factors for each rated project.

While no rating changes were made as part of the peer review, a number of key rating factors were revised.

Most stand-alone managed lane projects are rated in the 'BBB' category reflecting the leveraged structures employed. Given the relatively acute competition risks faced by managed lane facilities, it is highly unlikely that ratings above the 'A' category would be assigned, regardless of leverage or any other key rating factors assessments.