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Summary: North Texas Tollway Authority; Note
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services affirmed its 'SP-1+' rating on the North Texas Tollway Authority's (NTTA) taxable bond anticipation notes (BANs), series 2011B and assigned its 'SP-1+' rating to the authority's series 2011B taxable BANs. Both series of notes mature Sept. 1, 2013. The authority is issuing the approximately $422.6 million in series 2011 BANs concurrently with the issuance of approximately $572.5 million in first-tier tax-exempt bonds (AA/Stable), and the closing of a $422.6 million U.S. Department of Transportation Secured Loan Agreement obtained by the authority for the construction of its State Highway 161 project. The loan (AA/Stable) is part of the Transportation Infrastructure Finance and Innovation Act of 1998 (TIFIA). The ratings on both the first-tier bonds and the...
Companies mentioned in this report are: North Texas Tollway Auth
Action: New Rating
North Texas Tollway Auth