Agency Reaffirms Bridge Authority's A Rating

Also elected were Arthur Fletcher of Cumberland and Newport Mayor Stephen C. Waluk as co-vice chairmen.   

Meanwhile, it was also announced that global rating agency Fitch reaffirmed its “A” rating on $71.4 million in outstanding RITBA revenue bonds, which are used to fund ongoing improvements to the bridges.

"The financial stability of the Turnpike and Bridge Authority is of critical importance to the state and the health of these two gateway bridges onto Aquidneck Island,” said Darlington. “As many public entities in the region are finding it challenging to keep investment-grade ratings, we find that our constant attention to maintaining these important assets help protect the fiscal health of the authority while simultaneously ensuring that the bridges remain in excellent condition for all who cross them.  We are buoyed about the Fitch rating and are confident that the authority will continue the excellent financial practices that have brought us this success.”

Darlington has served on the volunteer RITBA board under three governors and has led the quasi-state agency that manages the Newport Pell and Mount Hope bridges.