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

September 13, 2018

NEW YORK--(BUSINESS WIRE)--Sep 13, 2018--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 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 .

Related Publications: (available at )

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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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180913005836/en/

CONTACT: KBRA

Analytical Contacts:

Andrew Clark

Managing Director

(646) 731-2380

aclarke@kbra.com

or

Alice Cheng

Associate Director

(646) 731-2403

acheng@kbra.com

or

Peter Scherer

Associate

(646) 731-2325

pscherer@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2018.

PUB: 09/13/2018 12:48 PM/DISC: 09/13/2018 12:48 PM

http://www.businesswire.com/news/home/20180913005836/en

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