Assured Guaranty Ltd. AGO

The Brightline companies that bet more than $5 billion on developing the nation's only privately held passenger railroad are reworking their debt in bankruptcy court, but the bright yellow trains will continue running between Miami and Orlando. This financial move does not affect Brightline's sister company Brightline West, which is working to build a high-speed railroad between Las Vegas and a stop outside Los Angeles in Southern California. The deal that Brightline worked out with its creditors will allow the railroad to borrow $490 million more as it works to attract enough riders to pay

Brightline, Florida's high-speed passenger rail system connecting Miami-to-Orlando, today announced that certain entities associated with the company have entered into a Restructuring Support Agreement (the "RSA") with certain of its financial stakeholders including Assured Guaranty, Inc. and an ad hoc group of Mutual Fund bondholders. The RSA will significantly deleverage Brightline's balance sheet and greatly improve liquidity.