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) Transportation Revenue Bonds (TRBs), Series 2018A-1 and 2018A-2 (Mandatory Tender Bonds). KBRA has also assigned a short-term rating of K1+ to the MTA’s Transportation Revenue Bond Anticipation Notes (BANs), Series 2018A.
KBRA has affirmed the long-term rating of AA+ with a Stable Outlook on the MTA’s outstanding Transportation Revenue Bonds. KBRA has also affirmed the short-term rating of K1+ on the following outstanding MTA’s BANs: Series 2015A-2F, Series 2017B, and Series 2017C.
Ratings | |||||||||||||
Issuer: Metropolitan Transportation Authority (MTA) |
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Series/Bond | Rating | Outlook | Action | ||||||||||
Transportation Revenue Bonds, Series 2018A-1 (Mandatory Tender Bonds) | AA+ | Stable | Assigned | ||||||||||
Transportation Revenue Bonds, Series 2018A-2 (Mandatory Tender Bonds) | AA+ | Stable | Assigned | ||||||||||
Transportation Revenue Bond Anticipation Notes, Series 2018A (BANs) (maturing 8/15/2019) | K1+ | Assigned | |||||||||||
Transportation Revenue Bonds | AA+ | Stable | Affirmed | ||||||||||
Transportation Revenue Bond Anticipation Notes, Series 2015B-2F (Taxable) (maturing 2/1/2018) |
K1+ | Affirmed | |||||||||||
Transportation Revenue Bond Anticipation Notes, Series 2017B (maturing 2/1/2018) |
K1+ | Affirmed | |||||||||||
Transportation Revenue Bond Anticipation Notes, Series 2017C (partially maturing 2/15/2019 & 5/15/2019) |
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 MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. For mapping of the long-term rating to the short-term rating, please refer to the short-term KBRA Rating Scale.
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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.