New Jersey Turnpike Authority's 2011 Revenue Bonds Rated 'A+'; Other Ratings Affirmed; Outlook Stable Nov 11
- Language: English
- Published: November 2011
- Region: New Jersey
The 'A' rating on New Jersey Turnpike Authority's turnpike revenue bonds continues to reflect the following fundamental credit strengths: A very large toll road system with a dominant market position and a large, diverse, and growing economic base that supports traffic volume; A long-standing stable operating profile, with 2000-2005 toll revenue of the turnpike and parkway growing at 5.3% and 1.3% per year, respectively; and Relatively low toll rates of approximately 5.7 cents per mile for passenger cars on the New Jersey Turnpike and only 2.2 cents per mile for passenger cars on the Garden State Parkway, providing the authority with the flexibility to raise revenue to pay for capital improvements. The rating is constrained primarily by the following credit...
Companies mentioned in this report are:
- New Jersey Tpk Auth
Action: Outlook: Stable
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