Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit - S&P Global Ratings’ Credit Research

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

Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit - S&P Global Ratings’ Credit Research
Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit
Published Jan 19, 2022
16 pages (6731 words) — Published Jan 19, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'BBB+' long-term rating to the Metropolitan Transportation Authority of New York's (MTA) remarketed $32.475 million subseries 2002G-1h and $50 million subseries 2012A-3 transportation revenue variable-rate refunding bonds (secured overnight financing rate tender notes). The outlook is stable. At the same time, S&P Global Ratings affirmed the following ratings: 'BBB+' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding; 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs); 'AA-/A-1+' dual rating on various MTA variable-rate TRBs with enhancement by letters of credit (LOCs) from The Toronto-Dominion Bank; 'AA-/A-1' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from Bank of America N.A., Bank of Montreal, Barclays Bank

  
Brief Excerpt:

...S&P Global Ratings assigned its '###+' long-term rating to the Metropolitan Transportation Authority of New York's (MTA) remarketed $32.475 million subseries 2002G-1h and $50 million subseries 2012A-3 transportation revenue variable-rate refunding bonds (secured overnight financing rate tender notes). The outlook is stable. At the same time, S&P Global Ratings affirmed the following ratings: + '###+' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding; + 'SP-2' short-term rating on the MTA's previously issued TRB bond anticipation notes (BANs); + '##-/A-1+' dual rating on various MTA variable-rate TRBs with enhancement by letters of credit (LOCs) from The Toronto-Dominion Bank; + '##-/A-1' dual rating on various MTA variable-rate TRBs with enhancement by LOCs from Bank of America N.A., Bank of Montreal, Barclays Bank PLC, and PNC Bank N.A.; and + '##-/A-2' dual rating on the MTA's variable-rate subseries 2005D-2 TRBs with enhancement by Landesbank Hessen-Thnringen...

  
Report Type:

Summary

Issuer
Metropolitan Transportation Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit" Jan 19, 2022. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2782639>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit Jan 19, 2022. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2782639>
  
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