The Fiscal Cliff could trigger a second recession, a 2% decline in GDP to flat 0.4% growth, and increased unemployment to upwards of 10%, all which would dramatically affect demand for U.S. transportation assets, according to a report by Fitch Ratings.

"Given the far-reaching effects of the Fiscal Cliff, it is not expected that Congress will allow these tax and spending cuts to take effect. But were it to occur, the effect on airports, roads, tunnels and bridges could be significant and could pressure ratings," said Michel McDermott, Managing Director and head of the U.S. Transportation team.

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