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S&P Rates Puerto Rico Highway & Transp Auth Revs A- Jul 98 Product Image

S&P Rates Puerto Rico Highway & Transp Auth Revs A- Jul 98

  • Published: July 1998
  • Region: Puerto Rico
  • Standard & Poors

Abstract
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

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Puerto Rico Hwy & Transp Auth

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