...August 1, 2023 NEW YORK (S&P Global Ratings) Aug. 1, 2023--S&P Global Ratings assigned its '##-' long-term rating to Triborough Bridge & Tunnel Authority, N.Y.'s (TBTA) pro forma $300 million subseries 2023B-1 and $70 million subseries 2023B-2 general revenue bonds. The outlook is stable. "The rating reflects our opinion of the TBTA's extremely strong enterprise risk profile and strong financial risk profile," said S&P Global Ratings credit analyst Joe Pezzimenti. The stable outlook reflects our assessment of the high and relatively price-inelastic demand for TBTA facilities during our two-year outlook period, allowing the authority the flexibility to raise tolls as needed to ensure continued strong financial performance. We could lower the rating during the two-year outlook period if the Metropolitan Transportation Authority's (MTA) financial pressures require further support from the TBTA beyond the mandatory transfer for the MTA's mass transit operations. We are unlikely to raise the...
