Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable - S&P Global Ratings’ Credit Research

Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable

Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable - S&P Global Ratings’ Credit Research
Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable
Published Dec 19, 2024
2 pages (1205 words) — Published Dec 19, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Dec. 19, 2024--S&P Global Ratings assigned its 'A+' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s proposed $1.3 billion (Metropolitan Transportation Authority [MTA] Bridges and Tunnels) real estate transfer tax revenue bonds (TBTA Capital Lockbox—Real Estate Transfer Tax), series 2025A. The outlook is stable. "The rating reflects our view that coverage of debt service will likely be at or near levels we view as strong even during economic downturns or disruptions to real estate market transactions, despite high volatility of the pledged real estate transfer tax revenues," said S&P Global Ratings credit analyst Thomas Zemetis. "Our rating also incorporates TBTA's expectations to issue additional parity debt up to the $150 million annual

  
Brief Excerpt:

...December 19, 2024 NEW YORK (S&P Global Ratings) Dec. 19, 2024--S&P Global Ratings assigned its 'A+' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s proposed $1.3 billion (Metropolitan Transportation Authority [MTA] Bridges and Tunnels) real estate transfer tax revenue bonds (TBTA Capital Lockbox--Real Estate Transfer Tax), series 2025A. The outlook is stable. "The rating reflects our view that coverage of debt service will likely be at or near levels we view as strong even during economic downturns or disruptions to real estate market transactions, despite high volatility of the pledged real estate transfer tax revenues," said S&P Global Ratings credit analyst Thomas Zemetis. "Our rating also incorporates TBTA's expectations to issue additional parity debt up to the $150 million annual debt service limit over the outlook horizon to finance the MTA's 2020-2024 capital program and successor programs," he added. The stable outlook reflects our view of the city's...

  
Report Type:

Ratings Action

Issuer
Triborough Bridge&Tunnel Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable" Dec 19, 2024. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-and-Tunnel-Authority-NY-Series-2025A-Revenue-Bonds-Assigned-A-Rating-Outlook-Stable-3302510>
  
APA:
S&P Global Ratings’ Credit Research. (). Triborough Bridge and Tunnel Authority, NY Series 2025A Revenue Bonds Assigned 'A+' Rating; Outlook Stable Dec 19, 2024. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-and-Tunnel-Authority-NY-Series-2025A-Revenue-Bonds-Assigned-A-Rating-Outlook-Stable-3302510>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.