The E-470 Public Highway Authority that operates a 47-mile toll road east of Denver announced a series of promotions in top management last week.
John McCuskey, acting director of the E-470 Public Highway Authority and formerly its chief financial officer, has been named permanent executive director.
McCuskey was named acting director in April after the death of Ed DeLozier. Hired in 1999 as finance director, McCuskey added the title of deputy executive director in 2002.
The authority also promoted David Kristick to deputy executive director in addition to his previous title of director of operations. Kristick joined E-470 in 1998 after 20 years in the Army.
Joe Donahue, who joined the authority in 2000 as a financial analyst and became controller in 2005, gains the title of CFO. Jason Myers, formerly of the accounting firm KPMG, was named controller.
The agency carries senior revenue bond ratings of BBB-minus from Standard & Poor’s and Fitch Ratings, and Baa2 from Moody’s Investors Service. Fitch and Moody’s have negative outlooks, while Standard & Poor’s is stable.
“The rating outlook is revised to negative from stable due to narrowing debt-service coverage ratios and the need to extend debt maturities by four years to provide some relief,” Moody’s noted in October.
The E-470 authority is a political subdivision of Colorado, created in 1988 under the Public Highway Authority Law. Each government within the system’s service area is represented on the agency’s board, which includes one elected official from Arapahoe, Adams, and Douglas counties, the cities of Aurora, Brighton, Commerce City, and Thornton, and the town of Parker.