...March 5, 2025 DALLAS (S&P Global Ratings) March 5, 2025--S&P Global Ratings assigned its 'SP-1+' short-term rating to the Triborough Bridge & Tunnel Authority (TBTA; MTA Bridges and Tunnels), N.Y.'s estimated $400 million series 2025A payroll mobility tax (PMT) bond anticipation notes. We also affirmed our '##+' long-term and underlying rating on the TBTA's senior-lien PMT bonds outstanding and our 'SP-1+' short-term rating on the authority's bond anticipation notes (BANs) outstanding. The outlook is stable. Our key credit considerations for the rating include the authority's very strong economic fundamentals, very strong coverage and liquidity, and very low volatility," said S&P Global Ratings credit analyst Ladunni Okolo. The BANs and the bonds are secured by pledged revenue consisting of PMT and aid trust account (ATA) revenue. This pledged revenue becomes subject to a statutory lien immediately when transferred from the state comptroller (who transfers the revenue) to the MTA into its...
