SAN FRANCISCO — After California granted a franchise to build a private toll highway in San Diego County, it took almost 17 years before the 10-mile road opened to the public.

Less than three years later, the South Bay Expressway finds itself in bankruptcy court.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.