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Moody's Corporation

Moody's calls MdTA move to reduce tolls a 'credit negative'

Moody's calls MdTA move to reduce tolls a 'credit negative'

Toll reductions announced last week for bridges and tunnels across Maryland are a "credit negative" for the Maryland Transportation Authority, according to an analysis by Moody's Investors Service. The move to cut rates, made at the urging of Gov. Larry Hogan, also "signifies the state's departure from non-intervention in toll rate setting," concluded Jennifer M. Chang, an analyst at the prominent bond rating agency. However, because the cuts only offset "a fraction" of a toll increase in 2013 under the administration of former Gov. Martin O'Malley, Moody's does not expect they will have a "significant negative effect on the...

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