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.
