Analyst concerned about Atlantic City Expressway - NBC40.net

Analyst concerned about Atlantic City Expressway

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PLEASANTVILLE - A Wall Street analyst warns the Atlantic City Expressway might have to raise tolls if traffic volume continues to decline.

Fitch ratings says the South Jersey Transportation Authority might need to boost tolls by 10-15% to maintain current "debt coverage" ratio on its bonds.

Fitch says severe weather led to a 5% decline in expressway traffic during the first two months of 2014.

Expressway traffic fell nearly 2% in 2013 and toll revenue has declined every year since peaking in 2009.

Fitch blames the traffic decline on the economic downturn, gambling competition in nearby states, and Hurricane Sandy.

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