Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to the Metropolitan Transportation Authority (MTA), N.Y.'s dedicated tax fund (DTF) refunding bonds, series 2016A. At the same time, Standard&Poor's affirmed its 'AA' long-term rating on the authority's DTF outstanding and its 'SP-1+' short-term rating on the MTA's bond anticipation notes (BANS) outstanding. 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 ('AA+' general obligation rating) derived from a diverse mix of dedicated transportation-related taxes and fees that are levied either statewide or on the vast and diverse MTA district; A consistent trend of strong debt service coverage
