Kroll Bond Rating Agency Assigns Long-Term Rating of AA+ with a Stable Outlook to the Metropolitan Transportation Authority’s Transportation Revenue Refunding Bonds Series 2015F

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA+ with a stable outlook to the Metropolitan Transportation Authority’s (MTA) $320 million Transportation Revenue Refunding Bonds Series 2015F. KBRA also affirms the K1+ short-term rating on Transportation Revenue BANs, Series 2015A and Series 2015B: Subseries 2015B-1 and Subseries 2015B-2, and the long-term rating of AA+ with a stable outlook on the MTA’s outstanding Transportation Revenue Bonds, except for bonds backed by a letter of credit or liquidity facility.

Proceeds of the Series 2015F Bonds will be used to refund a portion of the MTA’s Transportation Revenue Bonds, Series 2011A and Series 2006B. The Bonds will mature in 2036.

The KBRA long-term rating for the MTA’s Transportation Revenue Bonds is AA+ with a stable outlook. KBRA’s long-term rating for the MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology, published on November 1, 2012. Please see our report published on May 8, 2015 for a full discussion of the credit, Metropolitan Transportation Authority Transportation Revenue Bonds, and the report Metropolitan Transportation Authority Transportation Revenue Refunding Bonds published on August 19, 2015 for additional information.

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Contacts

Analytical:
Kroll Bond Rating Agency
Andrew Clarke, 646-731-2380
Senior Director
aclarke@kbra.com
or
Alice Cheng, 646-731-2403
Senior Analyst
acheng@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Andrew Clarke, 646-731-2380
Senior Director
aclarke@kbra.com
or
Alice Cheng, 646-731-2403
Senior Analyst
acheng@kbra.com