Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit - S&P Global Ratings’ Credit Research

Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit

Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit - S&P Global Ratings’ Credit Research
Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit
Published Oct 27, 2022
17 pages (6838 words) — Published Oct 27, 2022
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-/A-1' dual rating and 'BBB+' long-term underlying rating (SPUR) to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $75.1 million subseries 2005D-2 and $70.625 million subseries 2012G-4 transportation revenue variable-rate bonds (remarketing bonds) with enhancement by letters of credit (LOCs) from Bank of Montreal. In addition, we affirmed our 'BBB+' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding. We affirmed our 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs). We affirmed our 'AA-/A-1+' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from The Toronto-Dominion Bank. We affirmed our 'AA-/A-1' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from Bank of America N.A.,

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##-/A-1' dual rating and '###+' long-term underlying rating (SPUR) to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $75.1 million subseries 2005D-2 and $70.625 million subseries 2012G-4 transportation revenue variable-rate bonds (remarketing bonds) with enhancement by letters of credit (LOCs) from Bank of Montreal. + In addition, we affirmed our '###+' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding. + We affirmed our 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs). + We affirmed our '##-/A-1+' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from The Toronto-Dominion Bank. + We affirmed our '##-/A-1' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from Bank of America N.A., Bank of Montreal, Barclays Bank PLC, and PNC Bank N.A. + The outlook, where applicable, is stable....

  
Report Type:

Full Report

Issuer
Metropolitan Transportation Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit" Oct 27, 2022. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2909627>
  
APA:
S&P Global Ratings’ Credit Research. (). Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit Oct 27, 2022. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2909627>
  
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