Summary: Triborough Bridge&Tunnel Authority, New York; Joint Criteria; Note; Toll Roads Bridges

S&P Global Ratings assigned its 'SP-1+' short-term rating to the Triborough Bridge and Tunnel Authority's (TBTA) $400 million 2017A general revenue bond anticipation notes (BAN) with a Feb. 15, 2018, maturity date. The short-term rating reflects our long-term rating on the TBTA's general revenue bonds and what we view as a low market risk profile due to the TBTA's strong authority to take out the BAN with proceeds from the general revenue bonds before maturity, and TBTA's strong market access and information disclosure. The series 2017A BAN proceeds will be used to finance existing approved bridge and tunnel projects in approved capital programs. S&P Global Ratings also affirmed its 'AA-' and 'A+' ratings and underlying ratings (SPURs), with a stable

...S&P Global Ratings assigned its 'SP-1+' short-term rating to the Triborough Bridge and Tunnel Authority's (TBTA) $400 million 2017A general revenue bond anticipation notes (BAN) with a Feb. 15, 2018, maturity date. The short-term rating reflects our long-term rating on the TBTA's general revenue bonds and what we view as a low market risk profile due to the TBTA's strong authority to take out the BAN with proceeds from the general revenue bonds before maturity, and TBTA's strong market access and information disclosure. The series 2017A BAN proceeds will be used to finance existing approved bridge and tunnel projects in approved capital programs. S&P Global Ratings also affirmed its '##-' and 'A+' ratings and underlying ratings (SPURs), with a stable outlook, on the authority's general revenue bonds and subordinate revenue bonds outstanding. In addition, S&P Global Ratings affirmed its '###/A-1+' ratings and SPUR on the TBTA's general revenue variable-rate bonds, series 2001B; and its '##+/A-1'...

Summary