S&P Global Ratings assigned its 'AA-' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s $520 million series 2016C-1 transportation revenue bonds (TRBs). In addition, S&P Global Ratings affirmed the following ratings: 'AA-' issuer credit rating (ICR) and 'aa-' stand-alone credit profile (SACP) on the MTA; 'AA-' long-term rating and underlying rating (SPUR) on the MTA's previously issued TRBs; 'SP-1+' short-term rating on the MTA's previously issued transportation revenue bond anticipation notes (BANs); and 'AAA/A-1+', 'AA+/A-1', and 'AA/A-2' dual ratings on the MTA's various other TRBs outstanding that reflect the application of our joint criteria assuming low correlation. The outlook, where applicable, is stable. The series 2016C bond proceeds will be used to retire the MTA's previously issued series 2015B-1
