Summary: New Jersey Tpk Auth, NJ; Revenue - Transportation, Toll Roads & Bridges Feb 97
- ID: 2032006
- February 1997
- Region: New Jersey
- Standard & Poors
Factors reflected in the rating on New Jersey Turnpike Authority's bonds include: * The authority's heavy debt burden; * Marginal operating results; * A generally flat traffic trend, with moderate, yet improved, 3% growth in 1996; and * Management's use of nonrecurring and bond proceeds to avoid a toll-rate increase and provide balanced financial operations. Strengths reflected in the rating include: * The roadway's dominant position for travel within the Boston-Washington corridor, * Improvements in operating efficiencies over the past few years, and * A solid management team that has effectively dealt with budgeting and service improvement challenges. Toll-rate increases have been delayed or postponed because of political pressure and limited toll-rate flexibility. The heavy debt burden is the result...
Companies mentioned in this report are:
- New Jersey Tpk Auth
Action: New Rating
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