New Hampshire Department of Transportation rating for long-term revenue bonds has been upgraded to AA- from A+ from a key ratings agency that will allow for more favorable borrowing rates and measurable savings.
The latest rating increase from S&P Global Ratings is the result of NH Turnpike System's "very strong enterprise risk and financial risk profiles." According to the S&P report, the increased rating is due to "very strong management and governance with management's conservative approach to financial and capital planning and track record of achieving financial and operational goals."
Following major capital improvements on the New Hampshire Turnpike System, the system had approximately $379.6 million in outstanding bonds as of June 30, 2018.
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