Delaware River Port Authority, (DRPA) operator of the four major toll bridges from Philadelphia into the south Jersey suburbs has had its bonds uprated by Standard & Poors from A- to A.
Credit analyst Anita Pancholy is quoted in a statement from S&P: "The upgrade reflects our view of the authority's strong projected debt service coverage levels and history of maintaining healthy liquidity levels, despite declines in traffic."
She cites the Authority’s credit strengths as:
2013-02-05: Standard and Poors (S&P) says it is being sued by the US Government for its inflated ratings of mortgage based securities and their contribution to the financial crisis of 2007 thru 2009. The Wall Street Journal reports the the US Justice Department (USDoJ) attempted to get S&P to admit fault and proposed th
The New York State Thruyway Authority is getting a strong 'A+' rating from Standard & Poor for an important issue of longterm toll revenue bonds, although the rater is revising its outlook for the Thruway to 'negative.'
A statement today: "The outlook revision reflects what we believe is the potential for lower debt service coverage (DSC) if the authority does not obtain formal board approval