Statement from Howard P. Milstein
Chairman, New York State Thruway Authority
on today’s Standard & Poor’s Rating
June 12, 2012
The Thruway Authority appreciates confirmation of our existing "A+" rating, which indicates we have a "strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances." Indeed, our recent actions have set the Thruway on a sound fiscal foundation for the future for the first time in two decades and confirm that we are ready, willing and able to make the major investments needed in the future
Additionally, our financial advisor is actively engaged in development of a comprehensive plan to finance the new Tappan Zee Bridge, and make the historic Design-Build project self-sustaining.
Using the direction of the independent financial report we recently received, we will continue working to correct the short-sighted decisions of the past and prepare for the future.