Standard&Poor's Ratings Services has assigned its 'BBB+' underlying rating to Mid-Bay Bridge Authority, Fla.'s $200 million series 2015A and $45.4 million series 2015B senior-lien toll revenue refunding bonds. At the same time, Standard&Poor's assigned its 'BBB' rating to the authority's series 2015C $38 million second senior-lien toll revenue refunding bonds. Standard&Poor's also affirmed its 'BBB+' rating on the authority's toll revenue bonds as well as the 'BBB-' rating on the series 2011A and 2011B subordinate springing-lien toll revenue bonds. The outlook is stable. We understand that management expects to refund its senior and subordinate springing-lien bonds with the 2015A-C bonds under a new indenture. We will withdraw the ratings on the bonds outstanding upon
