Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research

Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating

Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating - S&P Global Ratings’ Credit Research
Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating
Published Jan 24, 2024
2 pages (1138 words) — Published Jan 24, 2024
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Abstract:

NEW YORK (S&P Global Ratings) Jan. 24, 2024--S&P Global Ratings assigned its 'AA+' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s approximately $1.65 billion series 2024A (Metropolitan Transportation Authority [MTA] Bridges and Tunnels) sales tax revenue bonds (TBTA Capital Lockbox--City Sales Tax), consisting of subseries 2024A-1, subseries 2024A-2, and subseries 2024A-3. At the same time, S&P Global Ratings affirmed its 'AA+' long term rating on the TBTA's approximately $1.9 billion in parity sales tax revenue bonds outstanding. The outlook is stable. Bond proceeds from the series 2024A transaction will fund a portion of capital costs for the CBDTP as well as projects included in the MTA's 2020-2024 (and subsequent) capital programs as authorized by the Traffic Mobility

  
Brief Excerpt:

...January 24, 2024 NEW YORK (S&P Global Ratings) Jan. 24, 2024--S&P Global Ratings assigned its '##+' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s approximately $1.65 billion series 2024A (Metropolitan Transportation Authority [MTA] Bridges and Tunnels) sales tax revenue bonds (TBTA Capital Lockbox--City Sales Tax), consisting of subseries 2024A-1, subseries 2024A-2, and subseries 2024A-3. At the same time, S&P Global Ratings affirmed its '##+' long term rating on the TBTA's approximately $1.9 billion in parity sales tax revenue bonds outstanding. The outlook is stable. Bond proceeds from the series 2024A transaction will fund a portion of capital costs for the CBDTP as well as projects included in the MTA's 2020-2024 (and subsequent) capital programs as authorized by the Traffic Mobility Act enacted by the state legislature in April 2019. "The rating reflects our view of extraordinarily strong coverage and liquidity, very strong economic fundamentals, low...

  
Report Type:

Ratings Action

Issuer
Triborough Bridge&Tunnel Authority
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating" Jan 24, 2024. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-and-Tunnel-Authority-NY-s-1-65-Billion-Sales-Tax-Revenue-Bonds-Assigned-AA-Rating-3121403>
  
APA:
S&P Global Ratings’ Credit Research. (). Triborough Bridge and Tunnel Authority, NY's $1.65 Billion Sales Tax Revenue Bonds Assigned 'AA+' Rating Jan 24, 2024. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Triborough-Bridge-and-Tunnel-Authority-NY-s-1-65-Billion-Sales-Tax-Revenue-Bonds-Assigned-AA-Rating-3121403>
  
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