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From New York State Thruway Tolls Increase in January

How could the Thruway toll increase affect S&P Global Ratings' assessment of Schenectady?

Possible What happens if… A possibility worth considering, not a forecast.

S&P Global Ratings' assessment of Schenectady may be influenced by regional cost increases The Thruway toll increase raises the cost of commuting and operating expenses for businesses and residents in the Albany and Schenectady region. This increased cost of living and doing business could contribute to regional economic pressure. Since S&P Global Ratings assesses the financial stability of municipalities like Schenectady, any sustained increase in regional operating costs could be factored into their ongoing credit rating review.

Reported by 1 independent outlet Written Saturday
Effect
Mild negative
How direct
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When
Over the long term
The story
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How it reaches S&P Global Ratings

Reported by news outletsBrind's reasoning

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The facts so far

As reported. Each one links to where it comes from.

  • The toll for the short trip between Albany and Schenectady will go up by just a penny, from $0.28 to $0.29.cbs6albany.com
  • A drive from Albany to Buffalo is jumping from $12.8 to $13.41.cbs6albany.com
  • More than 75-percent of the bridges on the interstate are more than 60 years old.cbs6albany.com
  • S&P Global Ratings assigned an A-plus rating with a negative outlook to Schenectady.cbs6albany.com

Why it matters

For S&P Global Ratings, maintaining accurate assessments is critical as their ratings influence investment decisions and the cost of borrowing for municipalities. Even a mild, sustained increase in regional operating expenses can contribute to a negative trend in the economic health of a rated area.

Schenectady is already under scrutiny, having been assigned an A-plus rating with a negative outlook by S&P Global Ratings. This existing negative outlook means the city's financial stability is already viewed as vulnerable, making it sensitive to any new pressures, such as increased regional transportation costs.

What we don't know yet

  • Will the Thruway Authority implement further toll increases in the future?
  • How will local businesses in Schenectady absorb the increased transportation costs?

What would change this answer

Gas prices continue to rise significantly above current averagesThe increased cost of commuting will become a stronger economic pressure point, making a negative revision to the outlook more likely.
The state provides subsidies or relief programs for regional transportation costsThe economic pressure on the region would be mitigated, reducing the likelihood of a change in the rating outlook.

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The full eventNew York State Thruway Tolls Increase in January Everything aboutS&P Global Ratings

Brind's analysis is written by AI from the reporting linked above and can be wrong. This explainer is a possibility worth considering, not a forecast: steps marked as Brind's reasoning are not stated in the reporting. It is not investment advice; do your own research.