KBRA Releases Report Assigning AA Rating with a Negative Outlook to the MTA Transportation Revenue Bonds, Series 2021A

NEW YORK--()--On February 1, 2021, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA with a Negative Outlook to the Metropolitan Transportation Authority (MTA) Transportation Revenue Bonds, Subseries 2021A-1 (Climate Bond Certified) and Transportation Revenue Bonds, Subseries 2021A-2.

Concurrently, KBRA affirmed the long-term rating of AA with a Negative Outlook on the MTA’s outstanding Transportation Revenue Bonds. KBRA also affirmed the short-term rating of K1+ on the MTA’s outstanding Transportation Revenue Bond Anticipation Notes.

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 Information Disclosure Form(s) located here.

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

This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK. Information on a credit rating’s endorsement status is available on its rating page at KBRA.com.

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

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. 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.

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

Douglas J. Kilcommons, Managing Director
+1 (646) 731-3341
douglas.kilcommons@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

Bill 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

Douglas J. Kilcommons, Managing Director
+1 (646) 731-3341
douglas.kilcommons@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

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

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