NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA and a Stable Outlook to the Triborough Bridge and Tunnel Authority’s (TBTA or “the Authority”) senior lien General Revenue Bonds, Series 2017A and General Revenue Refunding Bonds, Series 2017B (“the Bonds”). The issuance of the Series A Bonds is expected to be approximately $300 million in fixed rate obligations. Subject to market conditions, Series 2017B may refund certain outstanding TBTA bonds.
KBRA has also affirmed the long-term rating of AA and the Stable outlook on the TBTA’s outstanding senior lien General Revenue Bonds and the long-term rating of AA- and Stable outlook on the TBTA’s outstanding subordinate lien General Revenue Bonds.
The rating assignment and affirmation of the TBTA’s long-term rating is based on KBRA’s U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. KBRA’s rating evaluation of the long-term credit quality of public sector toll revenue bonds focuses on the five key rating determinants listed below. The corresponding rating determinant ratings for TBTA senior and subordinate lien bonds are listed below.
To view the report, please click here.
|TBTA Senior Lien General Revenue Bonds||
TBTA Subordinate Lien
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