Summary: Metropolitan Transportation Authority, New York; Joint Criteria

S&P Global Ratings assigned its 'AAA/A-1+' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s series 2008A-2a dedicated tax fund (DTF) bonds based on joint support with an irrevocable letter of credit (LOC) provided by TD Bank N.A. The 'AAA' long-term components of our ratings reflect the application of our joint criteria and assume low correlation between MTA and our long-term issuer credit rating (ICR) on TD Bank. We also assigned our 'AA' underlying rating (SPUR) to the bonds based on our "Priority-Lien" criteria (published Oct. 22, 2018, on RatingsDirect). The 'A-1+' short-term component of the rating on the bonds reflects our short-term rating on TD Bank, the LOC provider. The outlook on the long-term ratings, where applicable, is stable. On

...S&P Global Ratings assigned its '###/A-1+' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s series 2008A-2a dedicated tax fund (DTF) bonds based on joint support with an irrevocable letter of credit (LOC) provided by TD Bank N.A. The '###' long-term components of our ratings reflect the application of our joint criteria and assume low correlation between MTA and our long-term issuer credit rating (ICR) on TD Bank. We also assigned our '##' underlying rating (SPUR) to the bonds based on our "Priority-Lien" criteria (published Oct. 22, 2018, on RatingsDirect). The 'A-1+' short-term component of the rating on the bonds reflects our short-term rating on TD Bank, the LOC provider. The outlook on the long-term ratings, where applicable, is stable. On June 1, 2022, the outstanding series 2008A-2a (variable-rate bonds, $58.2 million principal outstanding) will be subject to mandatory tender and will be remarketed as the daily rate mode variable-rate bonds. On the mandatory tender...

Summary