Triborough Bridge and Tunnel Authority, NY's 2017C-2 Revenue Bonds Rated 'AA-'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Nov. 9, 2017--S&P Global Ratings assigned its 'AA-' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s $200 million 2017C-2 general revenue bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on other authority debt outstanding. "The ratings reflect our view of the TBTA's consistently strong historical financial performance and service essentiality, and our expectation that the authority will maintain combined debt service coverage (before mandatory fund transfers) at levels adequate for the rating," said S&P Global Ratings credit analyst Joe Pezzimenti. The subseries 2017C-2 bonds will finance bridge and tunnel projects. The subseries 2017C-1 bonds will refund some TBTA bonds outstanding for debt service savings without

...NEW YORK (S&P Global Ratings) Nov. 9, 2017--S&P Global Ratings assigned its '##-' long-term rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s $200 million 2017C-2 general revenue bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on other authority debt outstanding. "The ratings reflect our view of the TBTA's consistently strong historical financial performance and service essentiality, and our expectation that the authority will maintain combined debt service coverage (before mandatory fund transfers) at levels adequate for the rating," said S&P Global Ratings credit analyst Joe Pezzimenti. The subseries 2017C-2 bonds will finance bridge and tunnel projects. The subseries 2017C-1 bonds will refund some TBTA bonds outstanding for debt service savings without extending maturities. For more information on the 2017C-1 bonds, see the report published Oct. 31, 2017, on RatingsDirect. Net revenues from the seven bridges and two tunnels the...

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