NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns a long-term rating of A+ and Stable outlook to the Pennsylvania Turnpike Commission Turnpike Subordinate Revenue Bonds, Series A of 2019. KBRA additionally affirms the long-term rating of AA- and Stable outlook on the Commission’s outstanding Turnpike Revenue Bonds and long-term rating of A+ and Stable outlook on the Commission’s outstanding Turnpike Subordinate Revenue Bonds.
|Issuer: Pennsylvania Turnpike Commission|
Turnpike Subordinate Revenue Bonds,
Series A of 2019
|Turnpike Revenue Bonds||AA-||Stable|
|Turnpike Subordinate Revenue Bonds||A+||Stable|
The rating actions are based on KBRA’s U.S. Public Toll Roads, Bridges, and Tunnels Rating Methodology and an assessment of the following five key rating determinants identified therein:
- Size and Scope of Operations
- Demand Assessment
- Management/Regulatory Framework
- Financial Profile
- Security Provisions
A full report will be forthcoming.
Related Publications: (available at www.kbra.com)
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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.