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Fitch: Ohio Turnpike's $1.5B New Debt Not Expected to Harm Bondholders

JAN 4, 2013 10:29am ET

Ohio Gov. John Kasich's plan to issue $1.45 billion in new bonds through the Ohio Turnpike Commission is not expected to negatively impact the quality of existing OTC debt, Fitch Ratings said.

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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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