• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Massachusetts Bay Transportation Authority; Sales Tax Oct 09 Product Image

Massachusetts Bay Transportation Authority; Sales Tax Oct 09

  • Published: October 2009
  • Standard & Poors

Abstract
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

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 READ MORE >

Massachusetts Bay Transp Auth

Format Properties
Electronic The report will be emailed to you.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS