NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases a research report discussing the potential impact of the new virus on the MTA’s operating budget and the structural protections that limit the negative ramifications to bondholders.
As the number of confirmed coronavirus disease (COVID-19) cases in the New York area increases, political leaders have urged caution regarding use of congested subways and other modes of mass transit. Additionally, many businesses have begun allowing employees to work remotely. While the extent of a decline in public transit usage is not yet known, it is clear that these measures are resulting in a drop in MTA ridership and revenues. Kroll Bond Rating Agency (KBRA) continues to monitor the impact of COVID-19 across all our sectors and ratings.
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 designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is 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.