Summary: Triborough Bridge&Tunnel Authority, New York; Miscellaneous Tax

S&P Global Ratings assigned its 'AA+' long-term rating to the Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels), N.Y.'s $1.3 billion series 2021A Payroll Mobility Tax (PMT) senior-lien bonds consisting of subseries A-1 (tax-exempt), A-2 (tax-exempt), and A-3 (taxable). The outlook is negative. The negative outlook on the bonds reflects our negative outlook on the State of New York's general creditworthiness. Our risks to the state's credit quality include our view of risks to its ability to maintain structural budgetary balance over the current and subsequent fiscal years. While we view the state's financial plan as reasonably achievable to maintain balance, near-term risks include potentially weaker economic growth compared to the rest of the country and contagion risk from

...S&P Global Ratings assigned its '##+' long-term rating to the Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels), N.Y.'s $1.3 billion series 2021A Payroll Mobility Tax (PMT) senior-lien bonds consisting of subseries A-1 (tax-exempt), A-2 (tax-exempt), and A-3 (taxable). The outlook is negative. The negative outlook on the bonds reflects our negative outlook on the State of New York's general creditworthiness. Our risks to the state's credit quality include our view of risks to its ability to maintain structural budgetary balance over the current and subsequent fiscal years. While we view the state's financial plan as reasonably achievable to maintain balance, near-term risks include potentially weaker economic growth compared to the rest of the country and contagion risk from financial and economic stress associated with the Metropolitan Transportation Authority (MTA) and the New York City metropolitan statistical area (MSA). The subseries 2021A-1 bonds are being issued to...

Summary