Fitch rates Orlando-Orange County Expressway, Fla., bonds

Fitch Ratings said it assigned ratings to $499.105 million of Orlando-Orange County Expressway Authority, Fla.'s variable-rate revenue refunding bonds, series 2008B.

The $131.025 million of subseries 2008-B-1 bonds were rated AAA/F1+; the $118.5 million of subseries 2008B-2 bonds were rated AA/F1+; the $149.76 million of subseries B-3 and $99.82 million of subseries 2008B-4 bonds were rated AA+/F1+.

The ratings reflect letters of credit provided by Bank of America NA for subseries 2008B-1; SunTrust Bank for subseries 2008B-2; and Wachovia Bank NA for subseries 2008-3 and subseries 2008B-4.

Bank of America is rated AA/F1+ on negative watch; SunTrust is rated A+/F1+ on negative watch; and Wachovia is rated AA/F1+.

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