NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a short-term rating of K1+ to the Triborough Bridge and Tunnel Authority’s Series 2017A General Revenue Bond Anticipation Notes (BANs). KBRA understands that the par amount of the Series 2017A BANs will be approximately $400.0 million. In conjunction with assigning the short-term rating, KBRA has also affirmed the long-term rating of AA and the Stable Outlook on the TBTA’s outstanding General Revenue Bonds and the long-term rating of AA- and Stable outlook on the TBTA’s outstanding Subordinate Revenue Bonds. The Series 2017A BANs are tentatively scheduled to mature on February 15, 2018.
KBRA’s short-term rating is based on the TBTA’s long-term ratings and KBRA’s review of the factors that may impact the TBTA’s ability to issue additional BANs or take-out bonds at BAN maturity. The short-term rating utilizes KBRA’s mapping of short-term to long-term ratings, as shown in KBRA’s short-term rating scale definitions. For mapping of the long-term rating to the short-term rating, please refer to the short-term KBRA Rating Scale.
To access the full report, click here.
CONNECT WITH KBRA
Twitter
LinkedIn
Download
the iOS App
YouTube
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).
