NEW YORK (S&P Global Ratings) March 13, 2024--S&P Global Ratings assigned its 'AA/A-1+' dual rating and 'A-' underlying rating (SPUR) to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $80.115 million series 2020B transportation revenue variable-rate refunding bonds (remarketing bonds) with enhancement by a letter of credit (LOC) from Royal Bank of Canada. The outlook, where applicable, is positive. The 'AA' long-term component of our rating reflects the application of our joint criteria and assumes low correlation between the obligor, Metropolitan Transportation Authority (A-/Positive) and our long-term issuer credit rating on Royal Bank of Canada (AA-/Stable/A-1+) and addresses our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. The 'A-1+' short-term component of
