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

S&P Global Ratings assigned its 'AA-' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s series 2018D general revenue bonds. The outlook is negative. The 2018D bonds were originally issued as general revenue variable-rate, secured overnight financing rate tender notes, but TBTA is planning to remarket them on Oct. 1. On that date, the authority will convert the 2018D notes to fixed-rate mode from variable rate. The bonds, with a par amount of $125 million, were originally issued to finance bridge and tunnel projects in the Metropolitan Transportation Authority's (MTA) bridges and tunnels approved capital program and pay some financing, legal, and miscellaneous expenses. At the same time, S&P Global Ratings affirmed the following ratings: Its 'AA-' long-term

...S&P Global Ratings assigned its '##-' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s series 2018D general revenue bonds. The outlook is negative. The 2018D bonds were originally issued as general revenue variable-rate, secured overnight financing rate tender notes, but TBTA is planning to remarket them on Oct. 1. On that date, the authority will convert the 2018D notes to fixed-rate mode from variable rate. The bonds, with a par amount of $125 million, were originally issued to finance bridge and tunnel projects in the Metropolitan Transportation Authority's (MTA) bridges and tunnels approved capital program and pay some financing, legal, and miscellaneous expenses. At the same time, S&P Global Ratings affirmed the following ratings: + Its '##-' long-term rating and SPUR on the authority's general revenue bonds outstanding; + Its 'A+' long-term rating and SPUR on the TBTA's subordinate revenue bonds outstanding; + Its '###/A-1+' rating and '##-' SPUR on the...

Summary