Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit

S&P Global Ratings assigned its 'AA+/A-1' long-term rating to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed series 2012A-2 transportation revenue variable-rate bonds (TRBs). At the same time, S&P Global Ratings assigned its 'A' underlying rating (SPUR) to the bonds. S&P Global Ratings also affirmed the following ratings: 'A' issuer credit rating (ICR) and 'a' stand-alone credit profile (SACP) on the MTA; 'A' long-term rating and SPUR on the MTA's previously issued TRBs; 'AA/A-1', 'AA+/A-1', and 'AA+/A-1+' dual ratings on various TRBs outstanding, reflecting the application of our joint criteria, assuming low correlation, and reflecting our 'A' SPUR on the MTA's existing TRBs; and 'SP-1' short-term rating on the MTA's previously issued transportation revenue bond anticipation notes (BANs). The outlook, where applicable,

...S&P Global Ratings assigned its '##+/A-1' long-term rating to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed series 2012A-2 transportation revenue variable-rate bonds (TRBs). At the same time, S&P Global Ratings assigned its 'A' underlying rating (SPUR) to the bonds. S&P Global Ratings also affirmed the following ratings: + 'A' issuer credit rating (ICR) and 'a' stand-alone credit profile (SACP) on the MTA; + 'A' long-term rating and SPUR on the MTA's previously issued TRBs; + '##/A-1', '##+/A-1', and '##+/A-1+' dual ratings on various TRBs outstanding, reflecting the application of our joint criteria, assuming low correlation, and reflecting our 'A' SPUR on the MTA's existing TRBs; and + 'SP-1' short-term rating on the MTA's previously issued transportation revenue bond anticipation notes (BANs). The outlook, where applicable, is negative. The '##+/A-1' rating on the MTA's remarketed series 2012A-2 TRBs reflects the planned June 3, 2019, conversion of the interest rate...

Summary