News

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

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a long-term rating of A+ and
Stable outlook to the Pennsylvania Turnpike Commission Turnpike
Subordinate Revenue Bonds, Series A of 2019. KBRA additionally affirms
the long-term rating of AA- and Stable outlook on the Commission’s
outstanding Turnpike Revenue Bonds and 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 Subordinate Revenue Bonds,

Series A of 2019

    A+     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

A full report will be forthcoming.

Related Publications: (available at www.kbra.com)

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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.

Contacts

Analytical:
Linda Vanderperre,
Senior Director
(646) 731-2482
lvanderperre@kbra.com

Peter
Scherer, Associate
(646) 731-2325
pscherer@kbra.com

Harvey
Zachem, Managing Director
(646) 731-2385
hzachem@kbra.com

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