The toll road sector is picking back up. Growth in vehicle miles traveled (VMT) on toll roads is outpacing total VMT growth in the US. The number of new toll road projects is growing – faster than untolled roads, according to the Federal Highway Administration. Two highly anticipated projects opened last year – the North Tarrant Express Mobility Partners LLC Segments 1 & 2 (NTE) in Texas in October and I-95 Express Lanes, LLC (95 Express) in Virginia in December. Let’s take a look at the newest asset in the toll road sector – managed lanes – using the data from Fitch’s recently published Sector Update on Managed Lanes.
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