Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s transportation revenue bonds (TRB) series 2015X, which the authority is issuing to secure a loan from the Federal Railroad Administration (FRA) through the Railroad Rehabilitation and Improvement Financing (RRIF) program. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA-' issuer credit rating (ICR) and 'AA-' long-term rating on the MTA's TRBs outstanding. Standard&Poor's also affirmed its 'AAA/A-1' rating on the authority's series 2005D TRBs, reflecting the application of its joint criteria with low correlation. We base the ratings on the 'AA-' underlying rating on the bonds and the long- and short-term ratings on the bank
