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
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to the New Jersey Turnpike Authority-s (NJTA or the authority) $35 million turnpike revenue bonds, series 2009G. The authority will use bond proceeds to refund bonds outstanding. At the same time, Standard & Poor's affirmed its rating on NJTA's $6.6 billion turnpike revenue bonds outstanding. The outlook is stable. In our opinion, the 'A+' rating reflects a dominant market position combined with a stable operating profile, and low toll rate structure. The authority owns and operates both the New Jersey Turnpike and the Garden State Parkway. The 'A+' rating reflects our opinion of the following fundamental credit strengths: A very large toll road system with a dominant market position...
Companies mentioned in this report are:
- New Jersey Tpk Auth
Action: New Rating
Action: Outlook: Stable
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