LOS ANGELES — Fitch Ratings placed the BBB-minus rating of Foothill/Eastern Transportation Corridor Agency, Calif. toll revenue bonds on rating watch negative Thursday, affecting $2.3 billion in debt.

Analysts said they expect to resolve the negative watch on the outstanding revenue bonds series 1999 and 1995A within three to six months and warned the debt could be downgraded to junk if a restructuring doesn’t take place.

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