Summary: Triborough Bridge and Tunnel Authority, New York; Toll Roads Bridges Jun 07
- ID: 1929729
- June 2007
- Region: New York
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' rating to Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s $225 million general revenue bonds series 2007-A. At the same time, Standard & Poor's affirmed its 'AA-' rating on TBTA's $4.7 billion of senior-lien revenue bonds and its 'A+' rating on TBTA's $2.3 billion of subordinate-lien revenue bonds. The ratings are based on TBTA's consistently strong historical financial performance, service essentiality, and the expectation that debt service coverage levels remain solid while the available cash position will improve. More specific credit strengths include the following: TBTA bridges and tunnels operate at a high level of profitability. Both senior-lien and combined debt service coverage declined in 2002 to the lowest levels in recent history...
Companies mentioned in this report are:
- Triborough Br & Tunnel Auth
Action: New Rating
Action: Outlook: Stable
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