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

S&P Global Ratings assigned its 'AA+' long-term rating to the Triborough Bridge&Tunnel Authority (TBTA), N.Y.'s approximately $850 million series 2021C payroll mobility tax (PMT) (MTA Bridges and Tunnels) senior-lien bonds, consisting of subseries 2021C-1a, 2021C-1b, 2021C-2, and 2021C-3. The outlook is stable. The bonds are secured by pledged revenues consisting of PMT and aid trust account (ATA) revenues. These pledged revenues become subject to a statutory lien immediately when transferred from the state comptroller (who transfers the revenue) to the Metropolitan Transportation Authority (MTA) into their specified accounts. PMT revenues consist of a 0.34% employer mobility tax collected from private- and public-sector employers within the Metropolitan Commuter Transportation District (MCTD) excluding federal, international, and interstate employees, and certain

...S&P Global Ratings assigned its '##+' long-term rating to the Triborough Bridge & Tunnel Authority (TBTA), N.Y.'s approximately $850 million series 2021C payroll mobility tax (PMT) (MTA Bridges and Tunnels) senior-lien bonds, consisting of subseries 2021C-1a, 2021C-1b, 2021C-2, and 2021C-3. The outlook is stable. The bonds are secured by pledged revenues consisting of PMT and aid trust account (ATA) revenues. These pledged revenues become subject to a statutory lien immediately when transferred from the state comptroller (who transfers the revenue) to the Metropolitan Transportation Authority (MTA) into their specified accounts. PMT revenues consist of a 0.34% employer mobility tax collected from private- and public-sector employers within the Metropolitan Commuter Transportation District (MCTD) excluding federal, international, and interstate employees, and certain public school employees. ATA revenues consist of various fees within the district. The pledged revenues are not subject to...

Summary