New Jersey Turnpike Authority; Transportation, Toll Roads Bridges Jun 03
Standard & Poors, June 2003
Abstract
Standard & Poor's Ratings Services assigned its 'A' rating to the New Jersey Turnpike Authority's (NJTA) $2.43 billion in turnpike revenue bonds, series 2003A-2003D. The rating on the NJTA's outstanding bonds has been raised to 'A' from 'A-', reflecting the new and expanded NJTA system. The 'A-' rating was previously based on the NJTA's ownership of just the New Jersey Turnpike (NJT). Post issuance, the expanded NJTA system will consist of the NJT and the Garden State Parkway (GSP), the two largest and most critical surface transportation assets in the state. A portion of the bond proceeds will be used to acquire all of the assets of the New Jersey Highway Authority (NJHA), through the issuance of $700 million in...
Companies mentioned in this report are:
- New Jersey Tpk Auth
Action: New Rating
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
- New Jersey Tpk Auth
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