Bear Mountain Bridge

HIGHLAND – The New York State Bridge Authority is crediting its “strong financial performance, proactive management and vigilant maintenance” for the high credit ratings from Standard & Poor’s and Moody’s Investor Service.

The Bridge authority operates the Rip Van Winkle, Kingston-Rhinecliff, Mid-Hudson, Newburgh-Beacon and Bear Mountain bridges.

S&P has rated the authority AA-, among the best in the country for self-supporting toll agencies, and Moody’s has given it their highest Aa2 rating.

Bridge Authority Chairman James Sproat said they know the authority has made the right decisions given the current economic climate.

“We’ve taken a very hard look at our expenditures. We have instituted a hiring freeze. We have reduced operating expenses, but at the same time, keeping the toll payer in mind and ensuring that these bridges will be in good condition in perpetuity,” he said.

“They are vital links in the Valley, whether you are on the Mid-Hudson Bridge in Poughkeepsie or the Bear Mountain Bridge down in Westchester County, these are the life blood of these communities and they need to be maintained.”

The S&P analysis cited the Bridge Authority’s $1 toll for passenger cars as being very low compared with most Hudson River crossings. As of November 2009, the Bridge Authority standard toll is the lowest of any rated bridge agency in the nation.

Moody’s report covered toll agencies across the country and listed only the New York State Bridge Authority and the Triborough Bridge and Tunnel Authority as worthy of its highest rating.