The bridge is jointly owned and maintained by
NJTA and PTC.
"
NJTA is eager to quickly and effectively address all needed Turnpike and Parkway repairs," said Michael V.
The rating reflects continued stable traffic and revenue performance of both the New Jersey Turnpike (the turnpike) and Garden State Parkway (the parkway),
NJTA's continued prudent operating cost management and ability to deliver significant capital improvements on time and budget.
NJTA benefits from unlimited legal authority to change toll rates as needed.
NJTA's $7 billion 2009-2018 capital investment plan (CIP) is on schedule and on budget, with additional works included as a result of construction cost savings achieved in the original plan.
NJTA's $7 billion 2009 - 2018 capital investment plan (CIP) is on schedule and on budget, with additional works included as a result of construction cost savings achieved in the original plan.
NJTA's closest peer with a similar toll and transaction profile is Pennsylvania Turnpike Commission (PTC, senior and subordinate liens rated 'A+'/'A-').
New York: Fitch Ratings has assigned an 'A' rating to the New Jersey Turnpike Authority's (
NJTA or the authority) approximately $557 million series 2017E and 2017F turnpike revenue refunding bonds.