S&P Rates Puerto Rico Highway & Transp Auth Revs A- Jul 98
- ID: 2053131
- July 1998
- Region: Puerto Rico
- Standard & Poors
NY -- Standard & Poor's CreditWire 7/17/98 - Standard & Poor's today assigned its single-'A'-minus rating to Puerto Rico Highway & Transportation Authority's $75 million subordinate transportation revenue bonds series 1998. The bonds are scheduled to sell July 21, 1998. The rating reflects the following strengths: -- The essential nature of Puerto Rico's highway system to continue economic growth; -- A broad pledge of highway user taxes, including gas taxes, toll road income, vehicle registration receipts, and petroleum tax revenues; -- Solid growth in the pledged revenue stream; -- Experienced management that has promoted the importance of the island's highway system and a comprehensive capital improvement program; and -- The creation of the State Infrastructure Bank that will be funded...
Companies mentioned in this report are: Puerto Rico Hwy & Transp 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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.