BRADENTON, Fla. - The North Carolina Turnpike Authority received its first ratings as it plans the upcoming issuance of $636 million of debt for its first toll road project - the 18.8-mile Triangle Expressway around Raleigh.

Standard & Poor's on Friday assigned a AA rating to $341 million of bonds that will be backed by state appropriations and a BBB-minus to $295 million of senior revenue bonds.

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