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

S&P Global Ratings assigned its 'BBB+' long-term rating to the Metropolitan Transportation Authority (MTA) of New York's proposed $700 million series 2021A transportation revenue bonds (TRBs), using its "Global Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria (published Nov. 2, 2020). The outlook is negative. The 2021A bond proceeds will be used to finance existing approved transit and commuter projects; pay capitalized interest on the 2021A bonds; and pay certain financing, legal, and miscellaneous expenses. At the same time, we affirmed the following: 'BBB+' long-term rating and underlying rating (SPUR) on the MTA's TRBs outstanding; 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs); 'AA-/A-1+' dual ratings on various MTA variable-rate TRBs with enhancement by letters of credit

...S&P Global Ratings assigned its '###+' long-term rating to the Metropolitan Transportation Authority (MTA) of New York's proposed $700 million series 2021A transportation revenue bonds (TRBs), using its "Global Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria (published Nov. 2, 2020). The outlook is negative. The 2021A bond proceeds will be used to finance existing approved transit and commuter projects; pay capitalized interest on the 2021A bonds; and pay certain financing, legal, and miscellaneous expenses. At the same time, we affirmed the following: + '###+' long-term rating and underlying rating (SPUR) on the MTA's TRBs outstanding; + 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs); + '##-/A-1+' dual ratings on various MTA variable-rate TRBs with enhancement by letters of credit from Toronto Dominion Bank and U.S. Bank N.A.; and + '##-/A-1' dual ratings on various MTA variable-rate TRBs with enhancement by letters of...

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