Metropolitan Transportation Authority $435 Million Series 2002F Revenue Bonds Rated 'A' Oct 02
- ID: 1795448
- October 2002
- Standard & Poors
NEW YORK (Standard & Poor's) Oct. 25, 2002--Standard & Poor's Ratings Services today assigned its single-'A' rating to the Metropolitan Transit Authority's (MTA) $435 million series 2002F transportation revenue bonds. The outlook is stable. "The rating is based on the essential mass transit service the MTA provides to the New York City metropolitan area, improving operations and ridership trends, a diverse revenue stream, and strong support from the state and city," said credit analyst Laura Macdonald. "These strengths are offset by a large, ongoing capital program that will be largely debt financed," she added. Bond proceeds will be used to refund the outstanding debt associated with the MTA's transit and commuter facilities revenue bonds. The current debt is being issued...
Companies mentioned in this report are:
- Metropolitan Transp Auth
Action: New Rating
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.