Fitch Lifts Turnpike Bonds

Fitch Ratings upgraded the underlying rating on $430 million of outstanding Pennsylvania Turnpike Commission registration fee revenue refunding bonds, Series 2005, to AA-minus from A-plus with a stable outlook.

Fitch based the upgrade its on its application of state tax-supported rating criteria, the “fairly stable nature” of the revenue stream securing the bonds, and coverage of debt service by funds available to the bonds.

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Transportation industry Pennsylvania
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