Created: 10/30/2013 7:22 AM WHEC.com
By: Associated Press
A major credit rating agency has downgraded its view of the New York Thruway Authority over concerns about how much tolls will increase when the Tappan Zee Bridge is replaced north of Manhattan.
Standard & Poor's Ratings Service says Tuesday it has reduced the rating for bonds sold by the Thruway Authority from A+ to A. The agency says it acted because the authority hasn't detailed how much tolls will rise and traffic volume appears to be declining.
Gov. Andrew Cuomo has pushed the $3.9 billion replacement project.
The Associated Press reported in September that some authorities are concerned about the financing plan.
Thruway officials say the increase will be decided after the state learns if it will get a $1.5 billion federal loan. They had no initial comment Tuesday.