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Summary: Triborough Bridge and Tunnel Authority, New York; Toll Roads Bridges Jul 08 Product Image

Summary: Triborough Bridge and Tunnel Authority, New York; Toll Roads Bridges Jul 08

  • Published: July 2008
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' rating to Triborough Bridge and Tunnel Authority (TBTA or the authority), N.Y.'s $650 million general revenue bonds series 2008C and its 'A+' rating on TBTA's $350 million subordinate revenue bonds, series 2008D. At the same time, Standard & Poor's affirmed its 'AA-' rating on TBTA's $5.8 billion senior-lien revenue bonds outstanding and its 'A+' rating on the authority's $2.1 billion subordinate-lien revenue bonds outstanding. The outlook is stable. The long-term ratings are based on TBTA's consistently strong historical financial performance, service essentiality, and the expectation that debt service coverage (DSC) levels remain solid while available cash will improve. Specific credit strengths include the following: The authority's bridges and tunnels are very...

Companies mentioned in this report are:
- Triborough Br & Tunnel Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Triborough Br & Tunnel Auth

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