Indiana Toll Road operator facing debt woes

(WISH Photo/Eric Halvorson, file)
(WISH Photo/Eric Halvorson, file)

MUNSTER, Ind. (AP) — A state agency says it is monitoring the Indiana Toll Road operator’s finances as it works to make an upcoming debt payment.

Indiana Toll Road Oversight Board director James McGoff tells The Times of Munster that the private operator has said it is trying to negotiate more favorable terms with its lenders.

The Spanish-Australian investor group Cintra-Macquarie paid the state $3.8 billion in 2006 for a 75-year lease of the highway, but its toll revenue hasn’t met expectations.

Macquarie Group vice president Paula Chirhart declined to comment on the consortium’s financial situation.

McGoff says the lease agreement allows the state to potentially take the 157-mile highway back over if the consortium defaults on its debt payments. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus