Florida’s high-speed rail line appears to be floundering, even as ridership is up. <\/p>\n
Financial reports show Brightline has been borrowing loan after loan and faltering on its debts. Brightline borrowed over $22 million in May to cover daily operations and interest on other debts, according to its ridership and revenue report, and then borrowed another $21 million in June in part to pay off an earlier loan. <\/p>\n
The rail line has been trying to sell ownership in the company to help get it out of debt. <\/p>\n
Credit ratings agency Fitch reports that Brightline will likely fail to make future debt payments due by January. <\/p>\n
It did get an extension to today on a missed July 15th payment of more than $2 billion borrowed through the issuance of bonds. <\/p>\n
All this as Brightline made $18 million more during the first six months of this year compared to the same time last year. <\/p>\n","protected":false},"excerpt":{"rendered":"Florida’s high-speed rail line appears to be floundering, even as ridership is up. Financial reports show Brightline has…\n","protected":false},"author":2,"featured_media":264105,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[85000,23311,249,251,250,23307,84998,84996,115,84997,807,84999,729,221],"class_list":["post-351424","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-clear-channel-miami","tag-coast-to-coast","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news","tag-glenn-beck","tag-hannity","tag-jimmy-cefalo","tag-news","tag-schnitt","tag-south-florida","tag-the-weather-channel-wall-street-journal","tag-traffic","tag-weather"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/351424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=351424"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/351424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/264105"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=351424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=351424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=351424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}