Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research

Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating

Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research
Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating
Published Jan 26, 2022
3 pages (1891 words) — Published Jan 26, 2022
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Abstract:

DALLAS (S&P Global Ratings) Jan. 26, 2022--S&P Global Ratings assigned its 'AA+' long-term rating to the Triborough Bridge&Tunnel Authority (TBTA), N.Y.'s approximately $650 million series 2022A payroll mobility tax (PMT) (MTA Bridges and Tunnels) senior-lien bonds. At the same time, S&P Global Ratings affirmed its 'AA+' rating on the parity senior-lien debt outstanding. The outlook is stable. "The rating reflects our key credit considerations such as authority's very strong economic fundamentals, very strong coverage and liquidity, very low volatility, and our view of the general creditworthiness of the State of New York," said S&P Global Ratings credit analyst Ladunni Okolo. "The underlying rating on the PMT bonds is based on our 'Priority-Lien Tax Revenue Debt' criteria, which take

  
Brief Excerpt:

...January 26, 2022 DALLAS (S&P Global Ratings) Jan. 26, 2022--S&P Global Ratings assigned its '##+' long-term rating to the Triborough Bridge & Tunnel Authority (TBTA), N.Y.'s approximately $650 million series 2022A payroll mobility tax (PMT) (MTA Bridges and Tunnels) senior-lien bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the parity senior-lien debt outstanding. The outlook is stable. "The rating reflects our key credit considerations such as authority's very strong economic fundamentals, very strong coverage and liquidity, very low volatility, and our view of the general creditworthiness of the State of New York," said S&P Global Ratings credit analyst Ladunni Okolo. "The underlying rating on the PMT bonds is based on our 'Priority-Lien Tax Revenue Debt' criteria, which take into account both the strength and stability of the pledged revenues, as well as the general credit quality of the obligor where taxes are distributed and/or collected, in this case, the...

  
Report Type:

Ratings Action

Issuer
Triborough Bridge&Tunnel Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating" Jan 26, 2022. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-Tunnel-Authority-NY-2022A-Payroll-Mobility-Tax-Bonds-Assigned-AA-Rating-2786529>
  
APA:
S&P Global Ratings’ Credit Research. (). Triborough Bridge&Tunnel Authority, NY 2022A Payroll Mobility Tax Bonds Assigned 'AA+' Rating Jan 26, 2022. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-Tunnel-Authority-NY-2022A-Payroll-Mobility-Tax-Bonds-Assigned-AA-Rating-2786529>
  
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