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)


Court
Dismisses Challenge to Pennsylvania Turnpike Commission’s Act 44/89
Transit Funding Program


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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) 731-2482lvanderperre@kbra.com
Peter
Scherer, Associate(646) 731-2325pscherer@kbra.com
Harvey
Zachem, Managing Director(646) 731-2385hzachem@kbra.com