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KBRA Assigns AA- Rating and Stable Outlook to Pennsylvania Turnpike Commission Turnpike Revenue Bonds, Series A of 2019

NEW YORK--(BUSINESS WIRE)--

On July 23, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- and Stable outlook to the Pennsylvania Turnpike Commission Turnpike Revenue Bonds, Series A of 2019. KBRA additionally affirmed the long-term rating of AA- and Stable outlook on the Commission’s outstanding Turnpike Revenue Bonds as well as the long-term rating of A+ and Stable outlook on the Commission’s outstanding Turnpike Subordinate Revenue Bonds.

Issuer: Pennsylvania Turnpike Commission

Assigned

Rating

Outlook

Turnpike Revenue Bonds, Series A of 2019

AA-

Stable

 

 

 

Affirmed

Rating

Outlook

Turnpike Revenue Bonds

AA-

Stable

Turnpike Subordinate Revenue Bonds

A+

Stable

The rating actions are based on KBRA’s U.S. Public Toll Roads, Bridges, and Tunnels Rating Methodology and an assessment of the following five key rating determinants identified therein:

  • Size and Scope of Operations
  • Demand Assessment
  • Management/Regulatory Framework
  • Financial Profile
  • Security Provisions

To access the rating report, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

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