NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a short-term rating of K1+ on the Metropolitan Transportation Authority’s (MTA) Transportation Revenue Bond Anticipation Notes, Series 2017C (“the 2017C BANs”). The 2017C BANs are expected to mature in 2019. KBRA has affirmed the long-term rating of AA+ with a Stable Outlook on all outstanding MTA transportation revenue bonds, except for bonds backed by a letter of credit or liquidity facility. For mapping of the long-term rating to the short-term rating, please refer to the short-term KBRA Rating Scale.
KBRA has also affirmed the short-term rating of K1+ on the MTA Transportation Revenue Bond Anticipation Notes, Series 2015B-2f (Taxable) (maturing February 1, 2018) and Series 2017B (maturing February 1, 2018).
KBRA’s long-term rating for MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. Please see our initial rating report published on May 8, 2015, Metropolitan Transportation Authority Transportation Revenue Bonds, for a full discussion of the credit.
KBRA’s long-term rating assessment is based on its review of the five KBRA Rating Determinants included in KBRA’ U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology.
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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).