Summary: Triborough Bridge & Tunnel Authority, New York; Joint Criteria; Toll Roads Bridges Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' rating to Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s nearly pro forma $610.1 million series 2011A general revenue bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on TBTA's $6.9 billion in general revenue bonds outstanding as well as its 'A+' rating on the authority's $1.9 billion subordinate revenue bonds outstanding. The outlook on the long-term ratings is stable. Bond proceeds will refund certain series of bonds outstanding. Standard & Poor's also affirmed its 'AAA/A-1+' ratings on TBTA's general revenue variable-rate bonds, series 2001B. The ratings reflect our application of the low correlation joint criteria based on the 'AA-' underlying on the authority and the ratings on the...

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

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

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Triborough Br & Tunnel Auth

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