CHICAGO — Ohio’s plan to float $1.5 billion of bonds backed by a future Ohio Turnpike toll revenue will not hurt existing bondholders and could limit the risk that rising toll rates would hurt the state’s economy, Fitch Ratings said in a report out Friday.

Ohio Gov. John Kasich last month announced a plan to abandon earlier support for a long-term lease of the toll road -- turning down a possible $3 billion payment -- and instead expand the borrowing authority of the Ohio Turnpike Commission by borrowing against future toll revenues.

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