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Pennsylvania Turnpike Commission's 2011A Revenue Bonds Rated 'A+'; Other Ratings Assigned Mar 11 Product Image

Pennsylvania Turnpike Commission's 2011A Revenue Bonds Rated 'A+'; Other Ratings Assigned Mar 11

  • ID: 1790959
  • March 2011
  • Region: Pennsylvania
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) March 14, 2011-- Standard & Poor's Ratings Services has assigned its 'A+' rating to the Pennsylvania Turnpike Commission's (PTC) turnpike revenue bonds, series 2011A. At the same time, Standard & Poor's assigned its 'SP-1+' short-term rating to the 2012 maturity and its 'A+' rating to the 2013-2015 maturities of the commission's floating rate notes (SIFMA-indexed) series 2011B. In addition, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the commission's turnpike's approximately $2.8 billion revenue bonds outstanding and its 'A-' SPUR on the approximately $2.9 billion subordinate revenue bonds outstanding. Standard & Poor's also affirmed its 'A+/A-1' rating on PTC's series 2010A bonds. The rating's long-term component reflects the creditworthiness of the obligor (the...

Companies mentioned in this report are:
- Pennsylvania Tpk Comm

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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