Summary: Triborough Bridge&Tunnel Authority, New York; Joint Criteria

S&P Global Ratings assigned a 'AA+/A-1' dual rating and 'AA-'underlying rating (SPUR) to the Triborough Bridge&Tunnel Authority, N.Y.'s (TBTA) $148.47 million series 2018E general revenue variable-rate bonds (federally taxable). The 'AA+' long-term component of the dual rating on the 2018E bonds reflects the application of the low-correlation joint criteria based on our 'AA-' SPUR on the TBTA and the rating on the letter of credit (LOC) provider, UBS AG; the 'A-1' short-term component of the dual rating reflects solely the short-term counterparty rating on the LOC provider, UBS AG; and the 'AA-' SPUR reflects our expectation that TBTA's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively. The outlook on the SPUR is stable.

...+ S&P Global Ratings assigned a '##+/A-1' dual rating and '##-'underlying rating (SPUR) to the Triborough Bridge & Tunnel Authority, N.Y.'s (TBTA) $148.47 million series 2018E general revenue variable-rate bonds (federally taxable). + The '##+' long-term component of the dual rating on the 2018E bonds reflects the application of the low-correlation joint criteria based on our '##-' SPUR on the TBTA and the rating on the letter of credit (LOC) provider, UBS AG; the 'A-1' short-term component of the dual rating reflects solely the short-term counterparty rating on the LOC provider, UBS AG; and the '##-' SPUR reflects our expectation that TBTA's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively. + The outlook on the SPUR is stable....

Summary