Summary: New York State New York State Thruway Authority; Miscellaneous Tax

S&P Global Ratings assigned its 'AA+' long-term rating to the New York State Thruway Authority's (NYSTA) approximately $2.04 billion series 2022A (tax-exempt) and $154 million 2022B (federally taxable state personal income tax [PIT] revenue bonds, as well as its $733 million series C PIT revenue green bonds. The outlook is stable. We rate the bonds based on our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected--in this case, New York State (general obligation [GO] rating: 'AA+/Stable'). The series 2022A, 2022B, and 2022C bonds are issued on a parity

...S&P Global Ratings assigned its '##+' long-term rating to the New York State Thruway Authority's (NYSTA) approximately $2.04 billion series 2022A (tax-exempt) and $154 million 2022B (federally taxable state personal income tax [PIT] revenue bonds, as well as its $733 million series C PIT revenue green bonds. The outlook is stable. We rate the bonds based on our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018, on RatingsDirect), which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected--in this case, New York State (general obligation [GO] rating: '##+/Stable'). The series 2022A, 2022B, and 2022C bonds are issued on a parity with all other bonds that have been, or may be, issued under the General Resolution. All PIT bonds, of which there were approximately $46.7 billion outstanding as of May 31, 2022, are on a parity with each other as to payments from...

Summary