KBRA Releases Report Assigning an AA Rating to the TBTA General Revenue Bonds, Series 2020A and Placing the Rating on Watch Downgrade

NEW YORK--()--On May 15, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA to the Triborough Bridge and Tunnel Authority (TBTA) General Revenue Bonds, Series 2020A, and placed the rating on Watch Downgrade.

Concurrently, KBRA affirmed the long-term rating of AA on the TBTA’s outstanding general revenue bonds and affirmed the long-term rating of AA- on TBTA’s outstanding subordinate general revenue bonds. The ratings remain on Watch Downgrade.

Click here to view the report. To access ratings and relevant documents, click here.

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the U.S. Information Disclosure Form located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. 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) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical Contacts

Cindy Wu, Senior Director (Lead Analyst)
+1 (646) 731-2304
cwu@kbra.com

Jack Morrison, Associate Director
+1 (646) 731-2410
jmorrison@kbra.com

William Cox, Global Head of Corporate, Financial and Government Ratings
+1 (646) 731-2472
wcox@kbra.com

Karen Daly, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-2347
kdaly@kbra.com

Business Development Contacts

William Baneky, Managing Director
+1 (646) 731-2409
bbaneky@kbra.com

James Kissane, Senior Director
+1 (213) 806-0026
jkissane@kbra.com

Contacts

Analytical Contacts

Cindy Wu, Senior Director (Lead Analyst)
+1 (646) 731-2304
cwu@kbra.com

Jack Morrison, Associate Director
+1 (646) 731-2410
jmorrison@kbra.com

William Cox, Global Head of Corporate, Financial and Government Ratings
+1 (646) 731-2472
wcox@kbra.com

Karen Daly, Senior Managing Director (Rating Committee Chair)
+1 (646) 731-2347
kdaly@kbra.com

Business Development Contacts

William Baneky, Managing Director
+1 (646) 731-2409
bbaneky@kbra.com

James Kissane, Senior Director
+1 (213) 806-0026
jkissane@kbra.com