Summary: North Texas Tollway Authority; Note; Toll Roads Bridges Oct 08
- ID: 2024013
- October 2008
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A-' rating to the North Texas Tollway Authority's (NTTA or the authority) privately placed $100 million series 2008J first-tier index floaters; $100 million series 2008K first-tier current interest bonds; and $250 million series 2008L first-tier put bonds. The outlook is stable. Bond proceeds will complete the take-out financing of the $3.5 billion series 2007 bond anticipation notes (BANs) before the Nov. 19, 2008, maturity and to help fund the capital program. About $224 million in BANS are outstanding; these issues will refund them. At the same time, Standard & Poor's affirmed its 'A-' long-term rating on NTTA's first-tier system revenue bonds its 'SP-1' rating on the authority's BANs, and the 'BBB+' rating...
Companies mentioned in this report are:
- North Texas Tollway Auth
Action: New Rating
Action: Outlook: Stable
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