RALEIGH, NC – On Nov. 29, 2023, Fitch Ratings announced it raised the North Carolina Turnpike Authority's (NCTA) long-term rating to 'BBB+' from 'BBB' on the Triangle Expressway senior toll revenue bonds and the Turnpike's subordinate Transportation Infrastructure Finance and Innovation Act (TIFIA) loan.
Fitch Ratings credits the upgrade and “strong financial metrics associated with the expected financing for Phase 2 of the Complete 540 expansion project" and “the Triangle Expressway's history of robust traffic and revenue growth."
Fitch's full ratings report is available online.