Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s series 2016A general revenue bonds. At the same time, Standard&Poor's affirmed its 'AA-' and 'A+' underlying ratings (SPURs) on the authority's general revenue bonds and subordinate revenue bonds outstanding. The outlook is stable. Approximately $300 million of the series 2016A bonds proceeds will finance bridge and tunnel projects. The proposed bonds' par amount is subject to change if market conditions provide opportunities for the authority to refund some TBTA bonds. Standard&Poor's also affirmed its 'AAA/A-1+' ratings and SPUR on the TBTA's general revenue variable-rate bonds, series 2001B; and its 'AAA/A-1' ratings and SPUR on the authority's
