Ohio Turnpike and Infrastructure Commission's 2017A Revenue Refunding Bonds Rated 'AA-'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Aug. 18, 2017--S&P Global Ratings has assigned its 'AA-' long-term rating to Ohio Turnpike and Infrastructure Commission's (OTIC) pro forma $115.4 million turnpike revenue refunding bonds, series 2017A. At the same time, S&P Global Ratings affirmed its 'AA-' and 'A+' ratings on OTIC's turnpike revenue bonds and turnpike junior-lien revenue bonds outstanding. The outlook is stable. "Credit strengths, in our opinion, include a strong competitive position, functioning as a very important east-west transportation corridor spanning the entire width of northern Ohio, linking directly with the Pennsylvania Turnpike to the east and the Indiana Toll Road to the west," said S&P Global Ratings credit analyst Joseph Pezzimenti. We believe other credit positives include: Total debt service

...NEW YORK (S&P Global Ratings) Aug. 18, 2017--S&P Global Ratings has assigned its '##-' long-term rating to Ohio Turnpike and Infrastructure Commission's (OTIC) pro forma $115.4 million turnpike revenue refunding bonds, series 2017A. At the same time, S&P Global Ratings affirmed its '##-' and 'A+' ratings on OTIC's turnpike revenue bonds and turnpike junior-lien revenue bonds outstanding. The outlook is stable. "Credit strengths, in our opinion, include a strong competitive position, functioning as a very important east-west transportation corridor spanning the entire width of northern Ohio, linking directly with the Pennsylvania Turnpike to the east and the Indiana Toll Road to the west," said S&P Global Ratings credit analyst Joseph Pezzimenti. We believe other credit positives include: + Total debt service coverage (DSC) that we expect will decline but still remain strong following increasing leverage from planned bond issues that will be somewhat offset by adopted annual toll increases...

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