Metropolitan Transportation Authority, NY's 2017A Dedicated Tax Fund Green Bonds Rated 'AA'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Feb. 6, 2017--S&P Global Ratings assigned its 'AA' rating and stable outlook to the Metropolitan Transportation Authority (MTA), N.Y.'s approximately $350 million dedicated tax fund green bonds, series 2017A (climate bond certified). At the same time, S&P Global Ratings affirmed its 'AA' long-term rating, with a stable outlook, on the authority's fund bonds outstanding. S&P Global Ratings also affirmed its 'AA+/A-1' rating on the series 2002B-1 dedicated tax fund variable-rate bonds based on a joint support with a letter of credit with the Bank of Tokyo-Mitsubishi UFj Ltd. The outlook on the long-term rating is stable. "The 'AA' rating on the bonds reflects what we view as the pledge of appropriations from New York State,"

...NEW YORK (S&P Global Ratings) Feb. 6, 2017--S&P Global Ratings assigned its '##' rating and stable outlook to the Metropolitan Transportation Authority (MTA), N.Y.'s approximately $350 million dedicated tax fund green bonds, series 2017A (climate bond certified). At the same time, S&P Global Ratings affirmed its '##' long-term rating, with a stable outlook, on the authority's fund bonds outstanding. S&P Global Ratings also affirmed its '##+/A-1' rating on the series 2002B-1 dedicated tax fund variable-rate bonds based on a joint support with a letter of credit with the Bank of Tokyo-Mitsubishi UFj Ltd. The outlook on the long-term rating is stable. "The '##' rating on the bonds reflects what we view as the pledge of appropriations from New York State," said S&P Global Ratings credit analyst Eden Perry. We believe other credit positive factors include: + A consistent trend of strong debt service coverage; and + The state's commitment to transportation funding and the bond program. An offsetting...

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