new york state thruway authority
The New York State Thruyway Authority is getting a strong 'A+' rating from Standard & Poor for an important issue of longterm toll revenue bonds, although the rater is revising its outlook for the Thruway to 'negative.'
A statement today: "The outlook revision reflects what we believe is the potential for lower debt service coverage (DSC) if the authority does not obtain formal board approval
NY Thruway's understated debt, stagnant traffic, big health costs, cheap truck tolls pose financial crisis - Navigant Capital AdvisorsBy Peter Samuel on June 7, 2012
2012-06-07: Navigant Capital Advisors say the New York State Thruway has been seriously mismanaged over the past decade, accumulating dangerous levels of short-term debt, allowing operating costs to swell while revenue lags, failing to charge competitive tolls for trucks, and falling well short of stated objectives in roadway rehabilitation.