DBRS Releases Report on Strait Crossing Development

DBRS has today released a report on Strait Crossing Development Inc. (SDCI) that provides further detail on the recent downgrade of the rating.

Despite SDCI management’s sustained focus on cost-containment and a modest improvement in financial metrics in 2010, traffic on the Confederation Bridge is facing renewed downward pressure this year which, combined with the accretive nature of the BBB (low)-rated Revenue Bonds, points to the likely continuation of a depressed debt service coverage ratio and hindered financial flexibility.

To obtain a copy of the report or the September 7, 2011, press release, please see the links under Related Research.