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 the following: 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; Total debt service coverage (DSC) that we expect will decline but still remain strong following increasing leverage from planned bond issues that
