DelDOT has credit ratings affirmed

DOVER — Delaware Transportation had its credit ratings affirmed Wednesday.

Moody’s Investors Service and Standard & Poor’s provide independent rating opinions on the credit worthiness of public agencies and private organizations. These ratings are established to provide investors with information prior to the purchase of bonds from these public and private entities.

The Delaware Transportation Authority is the legal and financial authority under which the Department of Transportation issues its debt.
Secretary of Transportation Jennifer Cohan announced that Moody’s Investors Service has assigned an Aa1 rating to the Delaware Transportation Authority Series 2020 transportation system senior revenue bonds and Standard & Poor’s assigned its ‘AA+’ long-term rating to Delaware Transportation for the 2020 revenue bonds series.

Both rating agencies affirmed credit ratings of Aa1 (Moody’s) and AA+ (S&P) for the authority’s transportation system senior revenue bonds series outstanding, both agencies issued a stable outlook for the transportation system revenue bonds.

DelDOT’s current Capital Transportation Program will invest more than $4 billion in infrastructure maintenance and projects over the next six years.