S&P reaffirms Bridge Authority’s strong credit rating

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HIGHLAND – Strong management and stable finances have once again combined to give the NYS Bridge Authority one of the highest bond ratings for a self-supporting transportation operator, according to Standard & Poor’s Rating Service (S&P).
The NYSBA operates the five Mid-Hudson bridges: Bear Mountain Bridge, two spans of the Newburgh-Beacon Bridge, Mid-Hudson Bridge, Kingston-Rhinecliff Bridge and Rip Van Winkle Bridge.  The bridges range from 36 to more than 90 years old.
The S&P report cited “An experienced and proactive management team that has kept the Authority’s bridges in sound physical condition,” in reaffirming the Authority’s AA- rating.
“By sticking to our core mission and making sure the tolls we collect go to operations and maintenance, we are able to deliver a cost-effective and efficient network of safe and reliable regional bridges” Executive Director Joseph Ruggiero said. 
Bridge Authority Chairman Richard Gerentine said “We are pleased with the results of the S&P review.  This independent analysis reaffirms the work of the Authority, the guidance provided by the Board of Commissioners and the professionalism of our employees.”