Fitch-rated toll roads, ports, and airports have not sustained any significant damage from Hurricane Helene, and credit ratings are unaffected, Fitch Ratings says. Transportation credits have quickly resumed operations, with little disruption to revenues.
Transportation assets are built to largely withstand weather-related risks, and transportation assets in hurricane-prone Florida have historically demonstrated quick recoveries following storms. Transportation facilities also maintain strong cash reserves to cover short-term cost increases while waiting for insurance reimbursement and Federal Emergency Management Agency assistance.
None of the toll roads we rate in the southeast suffered material damage, as most were not in the path of the storm. Tampa’s Sunshine Skyway temporarily closed. Closures and toll suspensions due to hurricanes are typical in Florida, potentially occurring a few days a year, but this has had a negligible effect on toll road revenues historically.
While Fitch-rated airports experienced delays and flight cancellations, operations were not significantly disrupted nor did airports sustain any serious damage from the storm. Tampa International Airport closed pre-emptively for one day but resumed flights the following day.
Vessel diversion was minimal at Jacksonville Port (Jaxport), which fully reopened on September 27 following a brief closure with no reported structural damage. Port Tampa Bay also quickly resumed vessel operations on September 28. These ports did not report any material damage.
Communities in a number of states, including Florida, Georgia, and the Carolinas, have experienced significant storm devastation and tragic loss. We continue to monitor operations and traffic volume for any indications of disruptions affecting usage as communities recover.
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