However, NJTA has completely reduced its exposure to basis risk through recent debt refundings.
Materially increased transfers from NJTA to the state in order to support state transportation projects without commensurate toll increases to ensure system preservation and maintenance of rating case financial metrics.
NJTA expects to issue approximately $388 million in series 2017E Fixed Rate Bonds, to refund its outstanding Fixed Rate Bonds, series 2009I, series 2012A, and series 2013A.
A single NJ E-ZPass CSC account is established and customers are issued the NJTA
E-ZPass (IAG Agency 022) transponders for usage on all the Authority toll roads and the IAG/Interoperable toll roads.
's former director of operations and currently Baker's New Jersey Toll Initiatives director, for his insight into NJTA
operations of the roadways, ramps, toll plaza and service areas.
The 'A' rating reflects the extremely strong and stable traffic profile of the turnpike and the parkway and the considerable economic rate-making flexibility retained by NJTA to increase toll rates on both roads when needed.
Current financial operations of the NJTA (in fiscal 2003), including approximately six months of parkway financials, remain healthy, reflecting an operating margin of approximately 52%, and providing 1.
NJTA has indicated the possibility of raising tolls in support of this effort, though the level of any such increase would depend upon NJTA's ability to obtain funding from other sources.
The objectives of the project proposed by the NJTA
Griffin, senior vice president and Mid-Atlantic regional manager for Hill s Project Management Group said, NJTA
is eager to quickly and effectively address all needed Turnpike and Parkway repairs .
In making the announcement, Jacobs Group Vice President Randy Pierce stated, We are proud to continue our relationship with NJTA
and are committed to helping them achieve their capital investment goals.