Private Turnpike Possible

Republican Governor-elect John Kasich said last week that he would consider a plan to privatize the Ohio Turnpike.

Kasich said his staff was researching the idea and "definitely haven't taken it off the table."

He said a chief concern was whether the asset would attract a strong enough bid in the current market.

"It's probably not the right time," Kasich was quoted as saying in the Toledo Blade. "But there is a lot of money on the sidelines … so we'll see. Indiana did it and had great success with it."

A bill to privatize the Turnpike and the Ohio Lottery and use the money to fund a scholarship program has languished in a Senate committee since being introduced by Sen. Kevin Coughlin, R-Cuyahoga Falls, in early February.

The 241-mile Turnpike is Ohio's only toll road. It is considered a critical link in the nation's interstate highway system.

It issues debt through the double-A rated Ohio Turnpike Commission, which is among the highest-rated toll roads in the country. It is a relatively rare issuer that last sold new-money bonds in 2001.

In a recent interview with The Bond Buyer, officials said all Turnpike debt would be defeased in the event of privatization.

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Transportation industry Ohio
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