NEW YORK--(BUSINESS WIRE)--Jun 13, 2018--On June 12, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- with a Stable Outlook to the Pennsylvania Turnpike Commission’s (PTC) Variable Rate Turnpike Revenue Bonds, Series A-1 of 2018 and Turnpike Revenue Bonds, Series A-2 of 2018. KBRA has additionally affirmed the long-term rating of AA- and Stable Outlook on PTC’s outstanding Turnpike Revenue Bonds as well as the long-term rating of A+ and Stable Outlook on PTC’s outstanding Turnpike Subordinate Revenue Bonds. KBRA’s 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 the below key rating determinants of the :

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

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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 recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180613006292/en/

CONTACT: Analytical:

Andrew Clarke, 646-731-2380

Managing Director

aclarke@kbra.com

or

Alice Cheng, 646-731-2403

Associate Director

acheng@kbra.com

or

Peter Scherer, 646-731-2325

Associate

pscherer@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

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PUB: 06/13/2018 06:50 PM/DISC: 06/13/2018 06:50 PM

http://www.businesswire.com/news/home/20180613006292/en