Maine Turnpike bonds given stable outlook from credit agencies

The Associated Press
Posted July 29, 2011, at 5:35 a.m.

PORTLAND, Maine — Maine Turnpike officials said the toll road’s bond rating reflects sound financial operations, an expectation of stable traffic and other improvements.

Moody’s Investors Service has affirmed the Aa3 underlying rating assigned to the Turnpike Authority’s revenue bonds and the agency’s stable outlook. The MTA also has enjoyed strong ratings from the nation’s other leading credit agencies. Standard & Poor’s assigns an A+/Positive and Fitch Ratings assigns an AA/Stable rating.

MTA Vice Chairman Lucien Gosselin said Moody’s affirmation speaks volumes about how the financial community views the Maine Turnpike Authority’s response to some questionable executive-level spending practices uncovered earlier this year. printed on August 21, 2017