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TMCNet:  KBRA Releases Rating Report for Pennsylvania Turnpike Commission Turnpike Revenue Refunding Bonds, Series of 2019 (Forward Delivery)

[September 13, 2018]

KBRA Releases Rating Report for Pennsylvania Turnpike Commission Turnpike Revenue Refunding Bonds, Series of 2019 (Forward Delivery)

On September 12, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- and Stable Outlook to the Pennsylvania Turnpike Commission's Turnpike Revenue Refunding Bonds, Series of 2019 (Forward Delivery) and affirmed the long-term rating of AA- and Stable Outlook on the Commission's outstanding Turnpike Revenue Bonds. KBRA additionally affirmed the long-term rating of A+ and Stable Outlook on the Commission's outstanding Turnpike Subordinate Revenue Bonds. KBRA long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.

The rating actions are based on KBRA's U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology and the following five rating determinants identified therein:

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

To view the report, click here.

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, is 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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