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Are tolls too high? Moody’s 3 concerns for NJ Turnpike Authority

toll-booth

Despite increased revenue and a better bond rating, the New Jersey Turnpike Authority has key financial risk, one ratings agency says.

According a Sept. 14 report by Moody’s Investors Service, political interference and toll-wary drivers could put the Authority — which oversees the Garden State Parkway and New Jersey Turnpike — in a financially precarious situation in the coming years.

The report comes after a year of growth for the Authority, which saw nearly $1.5 billion in revenue between July 2014 and June 2015. During that same period, Moody’s increased its bond rating to “A2,” its highest since the early 2000s.

https://www.app.com/story/news/traffic/commuting/2016/09/22/new-jersey-turnpike-authority-garden-state-parkway-tolls-moodys/90827884/?utm_content=New+Campaign&utm_campaign=Observer_NJ_Politics&utm_source=Sailthru&utm_medium=email&utm_term=New+Jersey+Politics