KBRA Releases Rating Report Affirming A+/K1 Ratings for Pennsylvania Turnpike Commission Variable Rate Turnpike Revenue Bonds Series A of 2020

On August 15 KBRA affirmed the A+ bank-enhanced long-term rating for the Pennsylvania Turnpike Commission Variable Rate Turnpike Revenue Bonds, Series A of 2020 as well as the K1 bank-enhanced short-term rating for the Bonds. The ratings are based on: (i) an analysis of the structural and legal protections of the transaction and (ii) KBRA’s August 8, 2024 ratings for Barclays Bank PLC (the Bank), the provider of the irrevocable direct pay letter of credit (DPLC) supporting the Bonds.

To access rating and relevant documents, click here.

Click here to view the report.