Summary: Ohio Turnpike and Infrastructure Commission; Toll Roads Bridges

S&P Global Ratings assigned its 'AA-' long-term rating to the Ohio Turnpike and Infrastructure Commission's (OTIC or the turnpike) proposed approximately $141 million series 2021A tax-exempt senior-lien revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA-' rating on the OTIC's senior-lien revenue bonds outstanding, and its 'A+' rating on the junior-lien revenue bonds outstanding, using its "Global Not-For-Profit Transportation Infrastructure Enterprises" criteria, published Nov. 2, 2020. The outlook is negative. The proposed series 2021A tax-exempt senior-lien bond proceeds will be used to finance a portion of the new toll collection system, fund a debt service reserve, and pay costs of issuance. The bonds are secured by the turnpike system's pledged revenues, which consist of net toll revenue,

...S&P Global Ratings assigned its '##-' long-term rating to the Ohio Turnpike and Infrastructure Commission's (OTIC or the turnpike) proposed approximately $141 million series 2021A tax-exempt senior-lien revenue bonds. At the same time, S&P Global Ratings affirmed its '##-' rating on the OTIC's senior-lien revenue bonds outstanding, and its 'A+' rating on the junior-lien revenue bonds outstanding, using its "Global Not-For-Profit Transportation Infrastructure Enterprises" criteria, published Nov. 2, 2020. The outlook is negative. The proposed series 2021A tax-exempt senior-lien bond proceeds will be used to finance a portion of the new toll collection system, fund a debt service reserve, and pay costs of issuance. The bonds are secured by the turnpike system's pledged revenues, which consist of net toll revenue, net special toll permit revenue, service plaza concession revenue, gross additional lease and license revenue (such as advertising), and certain investment income. The OTIC also...

Summary