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Maine Turnpike Authority; Toll Roads Bridges Feb 12
Standard & Poors, February 2012
Standard & Poor's Ratings Services has raised its rating on Maine Turnpike Authority?s (MTA) senior lien bonds to 'AA-' from 'A+'. At the same time, Standard & Poor's raised its rating on the authority's special obligation bonds outstanding (subordinate lien) to 'A' from 'BBB+'. Standard & Poor's also assigned its 'AA-' rating to MTA's series 2012A and 2012B senior-lien revenue bonds. The outlook is stable. We base the upgrade on the authority's continued strong financial performance and business position during a period of stagnant traffic growth. The subordinate-lien rating incorporates our view of the same strengths as well as the deeply subordinate nature of the revenues securing the bonds, the absence of a debt service reserve for those bonds, and...
Companies mentioned in this report are: Maine 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
Maine Tpk Auth