Moody's: Negative outlook on NJ Turnpike Authority

State using the NJ Turnpike & GS Parkway as a piggy bank to fund other projects having nothing to do with two roads, sticking it to Middlesex commuters that are dependent on these roads.

Moody's keeps negative credit outlook on Turnpike Authority

Friday November 18, 2011, 6:03 PM

BY JOHN REITMEYER

STATE HOUSE BUREAU

State House Bureau

A Wall Street ratings agency is maintaining the New Jersey Turnpike Authority’s negative credit outlook, citing Governor Christie’s decision to divert money from the authority to prop up state transportation spending as a factor.

 

Moody’s Investors Service did not lower the authority's overall credit rating, but kept a negative credit outlook for the authority’s $8.4 billion in debt in place, saying in a report issued this week that high unemployment and a poor economy in general mean less forecasted traffic and revenue

 
http://www.northjersey.com/news/state/111811_Moodys_keeps_negative_credit_outlook_on_Turnpike_Authority.html?page=all