...February 20, 2025 NEW YORK (S&P Global Ratings) Feb. 20, 2025--S&P Global Ratings assigned its '##-' long-term rating to the Pennsylvania Turnpike Commission's (PTC) pro forma $350 million series 2025A senior-lien turnpike revenue bonds and $253.345 million second series 2025 senior-lien turnpike revenue refunding bonds. At the same time, we affirmed our '##+/A-1' joint support rating and '##-' long-term rating and underlying rating (SPUR) on PTC's series 2023B senior-lien variable-rate turnpike revenue bonds, based on our joint criteria (assuming low correlation). In addition, we affirmed our '##-' SPUR on PTC'S senior-lien turnpike revenue bonds outstanding. We also affirmed our '##-' long-term rating on the commission's registration-fee revenue refunding bonds and our 'A+' long-term rating on PTC's subordinate revenue bonds outstanding. The outlook is stable. "The '##-' rating on the proposed bonds reflects the turnpike's strategic location, lack of significant competition from toll-free...
