Credit assistance from the Transportation Infrastructure Finance and Innovation Act (TIFIA) programme is key to the success of public-private-partnerships (PPPs) in transportation in the US.
While TIFIA support has been used relatively sparingly thus far, the announcement by the US Department of Transport (USDOT) in July 2012 of $1.75 billion in newly-authorised funding availability over the next two years under the MAP-21 transportation bill should be a significant market changer.
The TIFIA workout
What should senior lenders expect in distressed TIFIA-financed projects? Timothy Walsh and Erich Eisenegger of McDermott Will & Emery investigate.
