Metropolitan Transportation Authority, NY's Revenue Refunding Bonds Rated 'AAA/A-1+' May 02
Standard & Poors, May 2002
Abstract
NEW YORK (Standard & Poor's) May 30, 2002--Standard & Poor's today assigned its triple-'A'/'A-1'-plus rating to the Metropolitan Transportation Authority, N.Y.'s $400 million bonds series 2002D-1 and 2002D-2, reflecting adequate bond insurance and standby bond purchase agreements. The triple-'A' portion of the rating is based on bond insurance provided by Financial Security Assurance and represents the likelihood debt service will be paid over the life of the issues. The 'A-1'-plus portion of the rating represents the likelihood for payment of tenders and is based on standby bond purchase agreements provided by Westdeutsche Landesbank Girozentrale for the series 2002D-1 bonds and Dexia Credit Local for the series 2002D-2 bonds....
Companies mentioned in this report are: Metropolitan Transp Auth,WestLB AG (Unsolicited Ratings),Assured Guaranty Municipal Corp.,Dexia Credit Local
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.
Metropolitan Transp Auth,WestLB AG (Unsolicited Ratings),Assured Guaranty Municipal Corp.,Dexia Credit Local
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