NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA with a Stable Outlook to the Triborough Bridge and Tunnel Authority (TBTA), General Revenue Bonds, Series 2018A. KBRA has affirmed the long-term rating of AA with a Stable Outlook on the TBTA’s outstanding general revenue bonds and the long-term rating of AA- with a Stable Outlook on TBTA’s outstanding subordinate revenue bonds. KBRA has also affirmed the short-term rating of K1+ on the TBTA’s General Revenue Bond Anticipation Notes, Series 2017A.
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| Ratings | ||||||||||
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Issuer: Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels) (TBTA) |
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| Series/Bond | Rating | Outlook | Action | |||||||
| General Revenue Bonds, Series 2018A | AA | Stable | Assigned | |||||||
| General Revenue Bonds | AA | Stable | Affirmed | |||||||
| Subordinate Revenue Bonds | AA- | Stable | Affirmed | |||||||
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General Revenue Bond Anticipation Notes, Series 2017A
(Maturing 02/15/2018) |
K1+ | Affirmed | ||||||||
| KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted. | ||||||||||
KBRA’s long-term rating for the TBTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. 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 view the report, please click here.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
