North Texas Tollway Authority's Series 2010 First-Tier System Revenue Refunding Bonds Assigned 'A-' Rating Nov 10

Standard & Poors, November 2010

Abstract
NEW YORK (Standard & Poor's) Nov. 11, 2010--Standard & Poor's Ratings Services has assigned its 'A-' long-term rating to the North Texas Tollway Authority's (NTTA, or the authority) first-tier system revenue refunding bonds, series 2010. The outlook is stable. "The 'A-' rating reflects our view of a highly leveraged system of toll facilities that will have an increased reliance on higher traffic and revenue growth levels to support adequate senior- and subordinate-lien projected debt service coverage under moderate downside stress scenarios," said Standard & Poor's credit analyst Joseph Pezzimenti. The NTTA system of toll facilities provides critical transportation linkages within the Dallas-Fort Worth metropolitan area, despite the existence of non-tolled alternatives. The system consists of the Dallas North Tollway, the...

Companies mentioned in this report are:
- North Texas Tollway Auth

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.

- North Texas Tollway Auth

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