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 Mar 18, 2022
16 pages (6661 words) — Published Mar 18, 2022
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-/A-1' dual rating and 'BBB+' long-term rating and underlying rating (SPUR) with a stable outlook to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $82.66 million subseries 2020B-2 transportation revenue variable-rate refunding bonds (remarketing bonds). 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 PLC, and PNC Bank

  
Brief Excerpt:

...S&P Global Ratings assigned its '##-/A-1' dual rating and '###+' long-term rating and underlying rating (SPUR) with a stable outlook to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $82.66 million subseries 2020B-2 transportation revenue variable-rate refunding bonds (remarketing bonds). 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 Girozentrale...

  
Report Type:

Summary

Issuer
Metropolitan Transportation Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit" Mar 18, 2022. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2811660>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Note; Transit Mar 18, 2022. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Note-Transit-2811660>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.