NEW YORK--(BUSINESS WIRE)--On September 12, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- and Stable Outlook to the Pennsylvania Turnpike Commission’s Turnpike Revenue Refunding Bonds, Series of 2019 (Forward Delivery) and affirmed the long-term rating of AA- and Stable Outlook on the Commission’s outstanding Turnpike Revenue Bonds. KBRA additionally affirmed the long-term rating of A+ and Stable Outlook on the Commission’s outstanding Turnpike Subordinate Revenue Bonds. KBRA long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
The rating actions are based on KBRA’s U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology and the following five rating determinants identified therein:
- Size and Scope of Operations
- Demand Assessment
- Management/Regulatory Framework
- Financial Profile
- Security Provisions
To view the report, click here.
Related Publications: (available at www.kbra.com)
- Pennsylvania Turnpike Commission, Variable Rate Turnpike Revenue Bonds, Series A-1 of 2018
- Pennsylvania Turnpike Commission, Oil Franchise Tax Subordinated Revenue Bonds, Series B of 2018
- Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Refunding Bonds, Third Series of 2017
CONNECT
WITH KBRA
Twitter
LinkedIn
Download
the iOS App
YouTube
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, is 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.
