...October 3, 2023 NEW YORK (S&P Global Ratings) Oct. 3, 2023--S&P Global Ratings raised its long-term rating and SPUR on the Metropolitan Transportation Authority (MTA), N.Y.'s transportation revenue bonds (TRBs) outstanding to 'A-' from '###+'. We upgraded the long-term component of our dual ratings on various MTA variable-rate TRBs with enhancement by letters of credit (LOCs) from The Toronto-Dominion Bank to '##' from '##-', while the short-term component remained at 'A-1+'. We upgraded the long-term component of our dual ratings on various MTA variable-rate TRBs with enhancement by LOCs from Bank of America N.A., Bank of Montreal, Barclays Bank PLC, and PNC Bank N.A. to '##' from '##-', while the short-term component remained at 'A-1'. The outlook, where applicable, is positive. The upgrade is driven by a combination of improving ridership, increased financial flexibility and operating stability resulting from the State of New York's decision to increase the Payroll Mobility Tax (PMT)...
