KBRA Assigns AA+ Rating with Stable Outlook to the MTA TRBs Series 2018A-1 & 2018A-2 and K1+ Rating to Transportation Revenue BANs Series 2018A

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA+
with a Stable Outlook to the Metropolitan Transportation Authority’s
(MTA) Transportation Revenue Bonds (TRBs), Series 2018A-1 and 2018A-2
(Mandatory Tender Bonds). KBRA has also assigned a short-term rating of
K1+ to the MTA’s Transportation Revenue Bond Anticipation Notes (BANs),
Series 2018A.

KBRA has affirmed the long-term rating of AA+ with a Stable Outlook on
the MTA’s outstanding Transportation Revenue Bonds. KBRA has also
affirmed the short-term rating of K1+ on the following outstanding MTA’s
BANs: Series 2015A-2F, Series 2017B, and Series 2017C.

 
Ratings

Issuer: Metropolitan Transportation Authority (MTA)

Series/Bond         Rating       Outlook       Action
Transportation Revenue Bonds, Series 2018A-1 (Mandatory Tender Bonds)       AA+       Stable       Assigned
Transportation Revenue Bonds, Series 2018A-2 (Mandatory Tender Bonds)       AA+       Stable       Assigned
Transportation Revenue Bond Anticipation Notes, Series 2018A (BANs) (maturing
8/15/2019)
      K1+               Assigned
Transportation Revenue Bonds       AA+       Stable       Affirmed
Transportation Revenue Bond Anticipation Notes,
Series 2015B-2F
(Taxable) (maturing 2/1/2018)
      K1+               Affirmed
Transportation Revenue Bond Anticipation Notes,
Series 2017B
(maturing 2/1/2018)
      K1+               Affirmed
Transportation Revenue Bond Anticipation Notes,
Series 2017C
(partially maturing 2/15/2019 & 5/15/2019)
      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
.
For mapping of the long-term rating to the short-term rating, please
refer to the short-term KBRA
Rating Scale
.

To access the full report, 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.

Contacts

Kroll Bond Rating Agency
Analytical:
Andrew
Clarke, 646-731-2380
Senior Director
aclarke@kbra.com
or
Alice
Cheng, 646-731-2403
Associate Director
acheng@kbra.com