Triborough Bridge and Tunnel Authority, NY's Subseries 2013D-2a&2b Bonds Rated 'AAA/A-1'

NEW YORK (Standard&Poor's) Dec. 9, 2015--Standard&Poor's Ratings Services has assigned its 'AAA/A-1' ratings to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s subseries 2013D 2a (federally taxable) and 2013D 2b (federally taxable) subordinate revenue refunding bonds. At the same time, Standard&Poor's assigned its 'A+' underlying rating (SPUR) to the bonds. Standard&Poor's also affirmed its ratings on parity debt outstanding. The outlook is stable. The rating's long-term component reflects the application of our joint criteria, assuming low-correlation between the 'A+' SPUR on the TBTA's subordinate revenue bonds and a direct-pay letter of credit (LOC) provided by Bank of America N.A. (A/Watch Pos/A-1). The rating's short-term component reflects solely the short-term counterparty rating on

...NEW YORK (Standard & Poor's) Dec. 9, 2015--Standard & Poor's Ratings Services has assigned its '###/A-1' ratings to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s subseries 2013D 2a (federally taxable) and 2013D 2b (federally taxable) subordinate revenue refunding bonds. At the same time, Standard & Poor's assigned its 'A+' underlying rating (SPUR) to the bonds. Standard & Poor's also affirmed its ratings on parity debt outstanding. The outlook is stable. The rating's long-term component reflects the application of our joint criteria, assuming low-correlation between the 'A+' SPUR on the TBTA's subordinate revenue bonds and a direct-pay letter of credit (LOC) provided by Bank of America N.A. (A/Watch Pos/A-1). The rating's short-term component reflects solely the short-term counterparty rating on the LOC provider. The interest mode on the remarketed bonds will change to the weekly interest mode from the term rate interest mode. We understand that the effective date of the new...

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