Gov. Earl Ray Tomblin today announced Moody's has affirmed it's Aa3 rating on $56 million of West Virginia Parkways Authority's Series 2002 Revenue Bonds and Series 2008 Variable Rate Demand Revenue Refunding Bonds.
"Moody's continues to recognize West Virginia's fiscally conservative approach to managing our state's finances," said Gov. Tomblin.
Moody's also indicates the outlook for the bonds is stable. Moody's Aa3 rating reflects the essentiality of the toll road, its current traffic levels, the West Virginia Parkways Authority's strong debt service coverage ratios and low debt levels. The rating agency also praised the Parkways Authority's ability to implement the ongoing 10-year major capital improvement plan.