Triborough Bridge&Tunnel Authority, NY Remarketed Series 2003B-1 Bonds Assigned 'AAA/A-1+' Rating

NEW YORK (S&P Global Ratings) Jan. 18, 2022--S&P Global Ratings assigned its 'AAA/A-1+' rating and 'AA-' underlying rating (SPUR) to the Triborough Bridge&Tunnel Authority, N.Y.'s (TBTA) $96.335 million remarketed series 2003B-1 general revenue variable-rate bonds. The outlook on the SPUR is stable. The action reflects the replacement of the existing Bank of America N.A. letter of credit (LOC) with a new U.S. Bank N.A. LOC on Jan. 19, 2022. The long-term component of the rating reflects the application of our joint criteria based on our 'AA-' SPUR on TBTA and the long-term rating on U.S. Bank N.A., assuming a low correlation level. The short-term component of the rating solely reflects our short-term rating on U.S. Bank N.A. At

...January 18, 2022 NEW YORK (S&P Global Ratings) Jan. 18, 2022--S&P Global Ratings assigned its '###/A-1+' rating and '##-' underlying rating (SPUR) to the Triborough Bridge & Tunnel Authority, N.Y.'s (TBTA) $96.335 million remarketed series 2003B-1 general revenue variable-rate bonds. The outlook on the SPUR is stable. The action reflects the replacement of the existing Bank of America N.A. letter of credit (LOC) with a new U.S. Bank N.A. LOC on Jan. 19, 2022. The long-term component of the rating reflects the application of our joint criteria based on our '##-' SPUR on TBTA and the long-term rating on U.S. Bank N.A., assuming a low correlation level. The short-term component of the rating solely reflects our short-term rating on U.S. Bank N.A. At the same time, S&P Global Ratings affirmed the following ratings: - '##-' long-term rating and SPUR on the authority's general revenue bonds outstanding; - 'A+' long-term rating and SPUR on the TBTA's subordinate revenue bonds outstanding; - '###/A-1+'...

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