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.

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.

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