Standard&Poor's Ratings Services affirmed its 'A+/A-1' rating on Metropolitan Transportation Authority, N.Y.'s series 2005E-2 transportation revenue variable-rate bonds. The affirmation follows our review of the documentation for an upcoming substitution of the letter of credit (LOC) provided by JPMorgan Chase Bank N.A. with a new LOC issued by Royal Bank of Canada, effective Dec. 18, 2014. Upon the LOC substitution, the long- and short-term components of the rating will reflect our long- and short-term ratings on Royal Bank of Canada. The current long- and short-term components of the rating reflect our long- and short-term ratings on JPMorgan Chase Bank N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009
