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

S&P Global Ratings assigned its 'A-' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s pro forma $1.2 billion series 2024A transportation revenue refunding green bonds. At the same time, S&P Global Ratings affirmed its 'A-' long-term rating and underlying rating (SPUR) on the MTA's transportation revenue bonds (TRBs) outstanding. We also affirmed the 'AA' long-term component and 'A-1+' short-term component of our dual ratings on various MTA variable-rate TRBs with enhancement by letters of credit (LOCs) from The Toronto-Dominion Bank. Finally, we affirmed the 'AA' long-term component and 'A-1' short-term component of our dual ratings 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.

...+ S&P Global Ratings assigned its 'A-' long-term rating to the Metropolitan Transportation Authority (MTA), N.Y.'s pro forma $1.2 billion series 2024A transportation revenue refunding green bonds. + At the same time, S&P Global Ratings affirmed its 'A-' long-term rating and underlying rating (SPUR) on the MTA's transportation revenue bonds (TRBs) outstanding. + We also affirmed the '##' long-term component and 'A-1+' short-term component of our dual ratings on various MTA variable-rate TRBs with enhancement by letters of credit (LOCs) from The Toronto-Dominion Bank. + Finally, we affirmed the '##' long-term component and 'A-1' short-term component of our dual ratings 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. + The outlook, where applicable, is positive....

Summary