NTTA WINS THE BOND BUYER SOUTHWEST REGION DEAL OF THE YEAR
Authority Will Now Vie for National Deal of the Year
PLANO, Texas – Nov. 3, 2015 – The Bond Buyer announced today that the North Texas Tollway Authority has been awarded the Southwest Region Deal of the Year.
The award recognized NTTA’s refunding of more than $2 billion in bonds in less than 12 months. NTTA received a remarkable $11.5 billion in orders for the bonds after extensive marketing efforts.
“NTTA has demonstrated prudent financial management by refinancing bonds in this low interest rate environment and NTTA is well positioned to meet its obligations with its bondholders,” said NTTA Chief Financial Officer Horatio Porter.
The strategic refinancings prompted both Moody’s and Standard and Poors to upgrade NTTA’s credit rating from A2 to A1 and A- to A, respectively. This helps NTTA maintain a strong financial position and pay lower interest rates for future transactions.
NTTA will be honored Dec. 3 at New York’s Waldorf-Astoria hotel and will compete with winners in the seven other regional categories for The Bond Buyer's 2015 Deal of the Year.
For more information on NTTA financial and investor information, visit NTTA.org.