Standard&Poor's Ratings Services has assigned its 'SP-1+' short-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s pro forma $500 million transportation revenue bond anticipation notes, series 2015A. At the same time, Standard&Poor's affirmed its 'AA-' issuer credit rating (ICR) and 'AA-' long-term rating on the MTA's transportation revenue bonds (TRB) outstanding. The outlook is stable. 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 providing the letter of credit (LOC) that supports the bonds. The irrevocable direct-pay LOC from Landesbank
