Transportation authority keeps strong rating
The Maryland Transportation Authority has retained its coveted Aa3 rating by Moody's as it prepares to sell abbout $532 billion in bonds to hellp finance the Intercounty Connector and other projects.
Moody's pointed to the authority's long history of financial stability and to its independent board's ability and willingness to raise tolls when needed.
In the bond rater's estimation, Maryland tolls remain "relatively low."
The good news: Moody's predicts the authority will be able to keep up its "strong financial profile" and reliable debt service.
The bad news: "Key to the forecast are assumed toll rate increases of 48% in 2012 and 23% in 2014. "