NEW YORK--(BUSINESS WIRE)--On June 13, 2018, Kroll Bond Rating Agency (KBRA) assigned a short-term rating of K1+ to the Metropolitan Transportation Authority (MTA) Transportation Revenue Bond Anticipation Notes (BANs) Series 2018B consisting of Subseries 2018B-1 and 2018B-2. The two Subseries are scheduled to mature on May 15, 2020 and May 15, 2021, respectively.
Concurrently, KBRA affirmed the long-term rating of AA+ with a Stable Outlook on the MTA Transportation Revenue Bonds and short-term rating of K1+ on the MTA’s Transportation Revenue BANs Series 2017C and 2018A.
Ratings | ||||||||||
Issuer: Metropolitan Transportation Authority (MTA) |
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Series/Bond | Rating | Outlook | Action | |||||||
Transportation Revenue BANs, Series 2018B
Subseries 2018B-1 (maturing 5/15/2020) |
K1+ | --- | Assigned | |||||||
Transportation Revenue BANs, Series 2018B
Subseries 2018B-2 (maturing 5/15/2021) |
K1+ | --- | Assigned | |||||||
Transportation Revenue Bonds | AA+ | Stable | Affirmed | |||||||
Transportation Revenue BANs, Series 2017C
(partially maturing 2/15/2019 & 5/15/2019) |
K1+ | --- | Affirmed | |||||||
Transportation Revenue BANs, Series 2018A
(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 the MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. KBRA’s Rating Determinant ratings are summarized below:
- Size and Scope of Operations: AAA
- Demand Assessment: AA+
- Regulatory/Management Framework: AA+
- Financial Profile: AA
- Security Provisions: AA-
To view the report, 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.