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

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

Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Transit - S&P Global Ratings’ Credit Research
Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Transit
Published Dec 05, 2024
13 pages (4951 words) — Published Dec 05, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA/A-1+' dual rating and 'A-' underlying rating (SPUR) to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $75 million subseries 2012G-3 transportation revenue variable-rate refunding bonds (remarketing bonds), based on a letter of credit (LOC) provided by Royal Bank of Canada (AA-/Stable/A-1+). We also affirmed our 'A-' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding. In addition, we affirmed our 'AA/A-1+' dual ratings on various MTA variable-rate TRBs with enhancement by LOCs from the Royal Bank of Canada. Finally, we affirmed our 'AA/A-1' dual ratings on various MTA variable-rate TRBs with enhancement by LOCs from Toronto-Dominion Bank, Bank of America N.A., Bank of Montreal, Barclays Bank PLC, and Truist Bank. The outlook, where

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##/A-1+' dual rating and 'A-' underlying rating (SPUR) to Metropolitan Transportation Authority (MTA), N.Y.'s remarketed $75 million subseries 2012G-3 transportation revenue variable-rate refunding bonds (remarketing bonds), based on a letter of credit (LOC) provided by Royal Bank of Canada (##-/Stable/A-1+). + We also affirmed our 'A-' long-term rating and SPUR on the MTA's transportation revenue bonds (TRBs) outstanding. + In addition, we affirmed our '##/A-1+' dual ratings on various MTA variable-rate TRBs with enhancement by LOCs from the Royal Bank of Canada. + Finally, we affirmed our '##/A-1' dual ratings on various MTA variable-rate TRBs with enhancement by LOCs from Toronto-Dominion Bank, Bank of America N.A., Bank of Montreal, Barclays Bank PLC, and Truist Bank. + The outlook, where applicable, is positive....

  
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; Transit" Dec 05, 2024. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Transit-3295590>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Transit Dec 05, 2024. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Metropolitan-Transportation-Authority-New-York-Joint-Criteria-Transit-3295590>
  
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