Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable - S&P Global Ratings’ Credit Research

Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable

Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable - S&P Global Ratings’ Credit Research
Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable
Published Dec 06, 2023
2 pages (1158 words) — Published Dec 06, 2023
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Abstract:

NEW YORK (S&P Global Ratings) Dec. 6, 2023--S&P Global Ratings assigned its 'AAA/A-1+' rating and its 'AA-' underlying rating (SPUR) to Triborough Bridge&Tunnel Authority (TBTA), N.Y.'s remarketed general revenue variable-rate refunding bonds, series 2005B-4a, with the 'AAA' long-term rating on the remarketed bonds eligible to be rated above the sovereign based on our joint criteria and because the sovereign rating does not constrain the rating. "The rating reflects the TBTA's key credit strengths, including its large, mature seven-bridge-and-two-tunnel system that provides critical links to the congested New York City area, its strong financial performance, and its experienced senior leadership team," said S&P Global Ratings credit analyst Joseph Pezzimenti. At the same time, we affirmed the other 'AAA/A-1+' rated

  
Brief Excerpt:

...December 6, 2023 NEW YORK (S&P Global Ratings) Dec. 6, 2023--S&P Global Ratings assigned its '###/A-1+' rating and its '##-' underlying rating (SPUR) to Triborough Bridge & Tunnel Authority (TBTA), N.Y.'s remarketed general revenue variable-rate refunding bonds, series 2005B-4a, with the '###' long-term rating on the remarketed bonds eligible to be rated above the sovereign based on our joint criteria and because the sovereign rating does not constrain the rating. "The rating reflects the TBTA's key credit strengths, including its large, mature seven-bridge-and-two-tunnel system that provides critical links to the congested New York City area, its strong financial performance, and its experienced senior leadership team," said S&P Global Ratings credit analyst Joseph Pezzimenti. At the same time, we affirmed the other '###/A-1+' rated (with '##-' SPUR) general revenue variable-rate bonds, series 2005B-2a and 2005B-2b, based also on our joint criteria. We also affirmed our '##+/A-1' rating...

  
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MLA:
S&P Global Ratings’ Credit Research. "Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable" Dec 06, 2023. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-Tunnel-Authority-NY-Variable-Rate-Refunding-Bonds-Assigned-AAA-A-1-Rating-Outlook-Stable-3099160>
  
APA:
S&P Global Ratings’ Credit Research. (). Triborough Bridge&Tunnel Authority, NY Variable-Rate Refunding Bonds Assigned 'AAA/A-1+' Rating; Outlook Stable Dec 06, 2023. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-Tunnel-Authority-NY-Variable-Rate-Refunding-Bonds-Assigned-AAA-A-1-Rating-Outlook-Stable-3099160>
  
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