NEW YORK--(BUSINESS WIRE)--On March 12, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ with a Stable Outlook on the Metropolitan Transportation Authority (MTA)’s Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002D-2b (LIBOR Floating Rate Tender Notes) (FRTN). KBRA also affirmed the long-term rating of AA+ with a Stable Outlook on the MTA’s outstanding transportation revenue bonds.
Additionally, KBRA affirmed the short-term rating of K1+ on the following Transportation Revenue Bond Anticipation Notes (BANs), Series 2017C and Series 2018A.
Issuer: Metropolitan Transportation Authority (MTA)
|Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002D-2b (LIBOR Floating Rate Tender Notes) (FRTN)||AA+||Stable||Assigned|
|Transportation Revenue Bonds||AA+||Stable||Affirmed|
|Transportation Revenue Bond Anticipation Notes, Series 2017C (partially maturing 2/15/2019 & 5/15/2019)||K1+||Affirmed|
|Transportation Revenue Bond Anticipation Notes, Series 2018A (BANs) (maturing 8/15/2019)||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 MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology.
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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.