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

S&P Global Ratings assigned its 'AA' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s series 2022A dedicated tax fund (DTF) bonds. 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 and our 'AA+/A-1' rating on the subseries 2002B-1, 2008A-2b, and 2008B-3c DTF variable-rate refunding bonds based on a joint support with a letter of credit (LOC). The outlook on the long-term ratings 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

...S&P Global Ratings assigned its '##' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s series 2022A dedicated tax fund (DTF) bonds. 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 and our '##+/A-1' rating on the subseries 2002B-1, 2008A-2b, and 2008B-3c DTF variable-rate refunding bonds based on a joint support with a letter of credit (LOC). The outlook on the long-term ratings 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 of the obligor where taxes are distributed and/or collected, in this case, the State of New York (general obligation...

Summary