Metropolitan Transportation Authority, NY 2005D-1 Bonds Rating Revised After LOC Addition Nov 08

Standard & Poors, November 2008

Abstract
NEW YORK (Standard & Poor's) Nov. 7, 2008--Standard & Poor's Rating Services has revised its rating on the Metropolitan Transportation Authority (MTA or the authority), N.Y., transportation revenue variable-rate bonds, series 2005D-1 to 'AAA/A-1' from 'A'. The rating action follows the application of the low-correlation joint criteria table subsequent to the addition of a letter of credit (LOC) provided by Landesbank Hessen-Thueringen Girozentrale (A/Stable/A-1), and where we rate MTA 'A'. The long-term component of the rating currently reflects an existing underlying rating (SPUR) on the authority; the long-term component will now reflect the joint rating based on the LOC provider and the MTA, and the short-term rating solely reflect the short-term rating on the LOC provider, following the release and...

Companies mentioned in this report are:
- Metropolitan Transp Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Metropolitan Transp Auth

Customers who bought this item also bought

• Transportation & Urban Investment Finance Review 2012/13
• America's Top-Rated Smaller Cities 2012/13 Edition
• Local Government Services Market Review 2010
• 2012 U.S. Exam Preparation & Tutoring Industry-Industry & Market Report
• 2012 America's Neighborhoods-Zip Code 11432 for Jamaica, NY report
• 2012 America's Neighborhoods-Zip Code 11434 for Jamaica, NY report
• 2012 America's Neighborhoods-Zip Code 11435 for Jamaica, NY report
• 2009 Public Sector - UK Key Corporate Changes
• 2012 America's Neighborhoods-Zip Code 10002 for New York, NY report
• 2012 America's Neighborhoods-Zip Code 10003 for New York, NY report