AMERICAS DISTRESS DAILY: Brightline Debt Sparks Investor Anxiety

Brightline Train faces financial hurdles as its ridership and revenue lag projections, causing concerns among investors who hold the company’s $5.5 billion in debt. The company is trying to raise new equity and debt, but the problems have cast a shadow over its ongoing construction of a new line between Southern California and Las Vegas.

• Bloomberg reported earlier this month that Brightline was going to delay an interest payment on $1.2 billion of bonds it issued through the municipal-bond market
• Brightline still has cash reserves to cover some of its debt until at least 2027, and it has gotten good ...