New York State Thruway Authority Series 2021A-1 And 2021A-2 PIT Revenue Bonds Assigned 'AA+' Rating, Outlook Stable

NEW YORK (S&P Global Ratings) July 16, 2021--S&P Global Ratings assigned its 'AA+' long-term rating, with a stable outlook, to the New York State Thruway Authority's $1.9 billion series 2021A-1 (tax-exempt) and $54.2 million 2021A-2 (federally taxable) state personal income tax (PIT) revenue bonds (transportation). "The stable outlook on the bonds reflects the stable outlook on the New York State general obligation rating," said S&P Global Ratings credit analyst David Hitchcock. "In particular, we view favorably improvement in the state's near-term economic and revenue recovery, receipt of substantial American Rescue Plan federal aid, and an enacted financial plan that reflects improved budget balance and maintains adequate reserve levels." New York's budget outlook shows some outyear gaps; however, better-than-expected revenue collections,

...July 16, 2021 NEW YORK (S&P Global Ratings) July 16, 2021--S&P Global Ratings assigned its '##+' long-term rating, with a stable outlook, to the New York State Thruway Authority's $1.9 billion series 2021A-1 (tax-exempt) and $54.2 million 2021A-2 (federally taxable) state personal income tax (PIT) revenue bonds (transportation). "The stable outlook on the bonds reflects the stable outlook on the New York State general obligation rating," said S&P Global Ratings credit analyst David Hitchcock. "In particular, we view favorably improvement in the state's near-term economic and revenue recovery, receipt of substantial American Rescue Plan federal aid, and an enacted financial plan that reflects improved budget balance and maintains adequate reserve levels." New York's budget outlook shows some outyear gaps; however, better-than-expected revenue collections, revenue enhancements, $12.7 billion in direct federal aid for recovery, and continuing enhanced Federal Medical Assistance Percentage...

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