RALEIGH – On June 20, 2024, S&P Global Ratings announced it raised the North Carolina Turnpike Authority's (NCTA) long-term rating to 'A-' from 'BBB+' on the Monroe Expressway senior toll revenue bonds and the Turnpike's subordinate Transportation Infrastructure Finance and Innovation Act (TIFIA) loan.
“The A- rating for the Monroe Expressway marks a significant milestone in NCTA history," said J.J. Eden, Executive Director of the Turnpike Authority. “Since opening in 2019, the Monroe Expressway has given customers precious time back into their lives and that is the cornerstone of our organization."
S&P Global Ratings credits the upgrade to, “improved financial risk profile of strong due to the expressway successfully finishing ramp-up, as demonstrated by sustained traffic and revenue growth maintained in line with forecast expectations."