- Published: May 2012
Massachusetts Bay Transportation Authority; Sales Tax Oct 09
- Published: October 2009
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to Massachusetts Bay Transportation Authority's (MBTA) senior sales tax bonds series C and D. At the same time, Standard & Poor's affirmed its 'AAA' rating on the parity debt outstanding. The bonds are secured by pledged sales tax receipts and are on parity with the authority's senior-lien bonds outstanding. Standard & Poor's bases the 'AAA' rating on the series B bonds and parity debt outstanding on what we consider the following credit strengths: A dedicated sales tax revenue stream that cannot be reduced, is not subject to appropriation, and is backed by nondiversion and nonimpairment language; A steady trend of pledged revenue growth that includes a 1%...
Companies mentioned in this report are: Massachusetts Bay Transp Auth
Action: New Rating
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Research Type: Full Analysis
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Massachusetts Bay Transp Auth
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