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Bankrupt – Indiana Toll Road

IN Toll RoadState officials say they expect no changes in daily operations of the Indiana Toll Road with the bankruptcy filing of the highway’s debt-ridden private operator.  Chicago-based ITR Concession Co. submitted its federal bankruptcy court filing late Sunday, saying it failed to make a $102 million interest payment that was due in June.  ITR’s debt stems from a 2006 deal under which its Spanish-Australian parent company paid Indiana $3.8 billion up front for a 75-year lease of the 157-mile tollway traversing northern Indiana. But ITR’s toll revenue hasn’t met expectations.  The company said last week it would try to sell the highway lease to pay off the debt.  Gov. Mike Pence says in a statement that “Hoosiers can expect business as usual” on the toll road.  (AP)

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