Increased leverage for necessary repairs and operational impacts will have to be fully analyzed for Florida toll roads in the aftermath of Hurricane Irma, though Fitch Ratings does not anticipate any near-term rating impact. Fitch has not received a status update from all rated Florida toll roads, but many issuers have reported that initial assessments show relatively minimal damage. Hurricane Irma resulted in toll roads and bridges across the state either temporarily waiving tolls or closing the roadways outright. On Sept. 5th, the Governor suspended tolls across the state to allow for quick and safe evacuation. Tolls remain suspended as of Sept. 14th. Near-term risks to operations will be assessed when facilities determine the extent of the damage. Underlying demand impact is hard to predict, but there will be some that remains subject to timing of the recovery. Fitch-rated toll roads and bridges in Florida include the Florida Turnpike Enterprise (rated AA/Stable), Central Florida Expressway Authority (rated A/Stable), Miami-Dade County Expressway Authority (MDX; rated A/Stable), Alligator Alley Toll Road (rated A+/Stable), Mid-Bay Bridge Authority (rated BBB+/Stable) and Rickenbacker Causeway (rated BBB+/Stable). MDX and Florida Turnpike have reported minimal damage, primarily landscaping, and crews are working to clear the roadways. Mid-Bay Bridge, given its northern location out of the storm's track, remained open during the hurricane and experienced no damage. Damage may be more substantial for some toll toads around the hardest hit areas of the state. Among them are the Rickenbacker Causeway, which serves as the sole connection to the village of Key Biscayne by way of Virginia Key off of the mainland of Miami. Also susceptible to more significant damage is Alligator Alley, which serves as a passage across southern Florida through the Everglades. Rickenbacker Causeway closed during the storm and has partially opened only to allow passage home for residents of Key Biscayne, though damage levels are still being assessed. The Causeway maintains a healthy financial profile and ample liquidity, with a fiscal 2016 senior debt service coverage ratio (DSCR) of 3.2x, senior leverage of 3.5x and a liquidity position that equates to approximately 723 days cash on hand, which should allow it to withstand the current short-term interruption to operations. Fitch will continue to monitor the magnitude of damage, if any, but does not anticipate any negative credit implications for the causeway. Alligator Alley continues to assess the damage to the roadway, though it is currently open to traffic. Alligator Alley maintains a very strong financial profile with a fiscal 2016 DSCR of 6.3x and low leverage of 1.3x net debt to cash flow available for debt service at fiscal year-end 2016. The parkway maintains both robust operations and a healthy maintenance reserve along with a renewal and replacement reserve that can be drawn on to fund future capital expenditures. As such, Fitch anticipates Alligator Alley's robust financial position will allow it to withstand tolling interruptions and moderate cost increases. Fitch will continue to monitor the aftermath of Hurricane Irma and will incorporate its findings into its ratings as applicable.