KBRA Releases Report for MTA Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002D-2b (LIBOR FRTN)

Date : 03/13/2018 @ 4:39PM
Source : Business Wire

KBRA Releases Report for MTA Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002D-2b (LIBOR FRTN)

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.

Ratings

Issuer:                   Metropolitan Transportation Authority (MTA)

Series/Bond   Rating   Outlook   Action 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.

To view the report, please click here.

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About KBRA and KBRA Europe

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.

Analytical Contacts:Kroll Bond Rating AgencyAndrew Clarke, 646-731-2380Managing Directoraclarke@kbra.comorAlice Cheng, 646-731-2403Associate Directoracheng@kbra.com

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