Summary: North Texas Tollway Authority; Joint Criteria; Toll Roads Bridges Nov 11
- ID: 2024222
- November 2011
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A-' long-term rating to the North Texas Tollway Authority's (NTTA or the authority) $266.25 million series 2011B first-tier revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'A-' long-term and underlying ratings (SPUR) on NTTA's $6.1 billion first-tier system revenue bonds and its 'BBB+' long-term rating on the authority's $1.1 billion second-tier revenue bonds. Finally, Standard & Poor's affirmed its 'AAA/A-1+' rating on NTTA's series 2009D variable-rate first-tier system revenue refunding bonds. The outlook, where applicable, is stable. The 'BBB+' rating reflects our view of the bonds' subordinate status. The 'AAA' rating on the series 2009D bonds reflects the application of our joint criteria using low correlation between the bonds'...
Companies mentioned in this report are:
- North Texas Tollway Auth
Action: New Rating
Action: Outlook: Stable
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. SHOW LESS READ MORE >