S&P Global Ratings assigned its 'AA' rating and stable outlook to the Metropolitan Transportation Authority (MTA), N.Y.'s approximately $500 million dedicated tax fund (DTF) green bonds, series 2016B (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 DTF bonds outstanding. We also affirmed our 'AAA/A-1' rating on the series 2002B-1 dedicated tax fund variable-rate bonds based on a joint support with a letter of credit (for more information on this series please refer to our analysis published March 14, 2016, on Ratings Direct). 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
