Summary: Metropolitan Transportation Authority, New York; Gas Tax; Joint Criteria

S&P Global Ratings assigned its 'AA+/A-1' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s subseries 2008A-2b and 2008B-3c dedicated tax fund (DTF) variable-rate refunding bonds based on our joint support criteria. At the same time, we affirmed our 'AA' long-term rating and underlying rating (SPUR) on the MTA's outstanding DTF bonds based on our "Priority-Lien" criteria (published Oct. 22, 2018, on RatingsDirect). We also affirmed our 'AAA/A-1+' rating on the series 2008A-1 DTF variable-rate refunding bonds based on a joint support with a letter of credit (LOC) and affirmed our 'AA+/A-1' rating on the series 2002B-1 DTF variable-rate bonds based on a joint support with a LOC. The outlook on the long-term rating is stable. The underlying rating on the

...S&P Global Ratings assigned its '##+/A-1' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s subseries 2008A-2b and 2008B-3c dedicated tax fund (DTF) variable-rate refunding bonds based on our joint support criteria. At the same time, we affirmed our '##' long-term rating and underlying rating (SPUR) on the MTA's outstanding DTF bonds based on our "Priority-Lien" criteria (published Oct. 22, 2018, on RatingsDirect). We also affirmed our '###/A-1+' rating on the series 2008A-1 DTF variable-rate refunding bonds based on a joint support with a letter of credit (LOC) and affirmed our '##+/A-1' rating on the series 2002B-1 DTF variable-rate bonds based on a joint support with a LOC. The outlook on the long-term rating is stable. The underlying rating on the DTF bonds is based on our ratings linked to an obligor's creditworthiness and our "Priority-Lien" criteria, which take into account both the strength and stability of the pledged revenues, as well as the general credit quality...

Summary