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 outlook on New Jersey Turnpike Authority's outstanding revenue bonds is revised to positive from stable, reflecting the attainment of structural balance while funding its current capital needs. The 'A-' rating is based on the following strengths: The turnpike's critical role in the Northeast transportation system, with limited viable competing alternatives; A sound service area, encompassing a major portion of the state; The state's strong economy, which is characterized by a diversified economy with high wealth and income levels; Stable growth in traffic experienced over the past 20 years--The implementation of E-ZPass has resulted in increased throughput, and as a result traffic volume is up 5% through April 2001, as compared to the prior-year period. This has translated into stable...
Companies mentioned in this report are:
- New Jersey Tpk Auth
Action: Outlook Revised
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.
Research Type: Full Analysis