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

S&P Global Ratings revised the outlook to stable from negative and affirmed its ratings on the Metropolitan Transportation Authority (MTA) of New York's transportation revenue bonds (TRBs) outstanding. At the same time, S&P Global Ratings assigned its 'BBB+' long-term rating to the MTA's $200 million subseries 2002D-2 remarketed transportation revenue refunding bonds (secured overnight financing rate tender notes), using its "Global Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria (published Nov. 2, 2020). The following ratings were affirmed: '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 from Toronto Dominion Bank and

...S&P Global Ratings revised the outlook to stable from negative and affirmed its ratings on the Metropolitan Transportation Authority (MTA) of New York's transportation revenue bonds (TRBs) outstanding. At the same time, S&P Global Ratings assigned its '###+' long-term rating to the MTA's $200 million subseries 2002D-2 remarketed transportation revenue refunding bonds (secured overnight financing rate tender notes), using its "Global Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria (published Nov. 2, 2020). The following ratings were affirmed: + '###+' 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 credit from...

Full Report