KBRA Releases Pennsylvania Turnpike Commission Turnpike Subordinate and MLF-Enhanced Turnpike Subordinate Special Revenue Bonds Rating Reports

NEW YORK--(BUSINESS WIRE)--On February 6, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of A+ and Stable Outlook to the Pennsylvania Turnpike Commission Turnpike Subordinate Revenue Refunding Bonds, First Series of 2020 (Federally Taxable) and a long-term rating of AA- and Stable Outlook to the Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Refunding Bonds, First Series of 2020 (Federally Taxable).

Simultaneously, KBRA affirmed the long-term rating of AA- and Stable outlook on outstanding Turnpike Revenue Bonds, the long-term rating of A+ and Stable outlook on outstanding Turnpike Subordinate Revenue Bonds, and the long-term rating of AA- and Stable outlook on outstanding Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds.

The rating actions do not apply to bonds backed by a letter of credit of liquidity facility.

Issuer: Pennsylvania Turnpike Commission
Assigned	Rating	Outlook
Turnpike Subordinate Revenue Refunding Bonds, First Series of 2020 (Federally Taxable)	A+	Stable
Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Refunding Bonds, First Series of 2020 (Federally Taxable)	AA-	Stable
Affirmed	Rating	Outlook
Turnpike Revenue Bonds	AA-	Stable
Turnpike Subordinate Revenue Bonds	A+	Stable
Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds	AA-	Stable

Click below to access the respective reports:

• Turnpike and Turnpike Subordinate Revenue Bonds Rating Report
• Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds Rating Report

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.