WASHINGTON - Debt service coverage on highway user revenue fund bonds should remain more than sufficient, and the ratings of those bonds should remain stable, even as gasoline prices have spiked to record highs, causing people to drive fewer miles over the past year, a Standard & Poor's report said.

Highway user revenue fund bonds, or HURF bonds, are supported by diverse highway user taxes, which include fuel taxes, vehicle registration fees, license fees, and other motor vehicle-related fees. The rating agency rates about $33 billion of gasoline tax and highway user tax-related debt.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.