NEW YORK--(BUSINESS WIRE)--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.
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