Triborough Bridge and Tunnel Authority, NY's General Rev Variable-Rate Bonds Rated 'AA-/A-1+' May 05
- ID: 1930442
- May 2005
- Region: New York
- Standard & Poors
NEW YORK (Standard & Poor's) May 3, 2005--Standard & Poor's Ratings Services assigned its 'AA-/A-1+' rating to the Triborough Bridge and Tunnel Authority (TBTA), N.Y.'s $150 million general revenue variable rate bonds series 2005A. At the same time, Standard & Poor's affirmed its 'AA-' rating on TBTA's outstanding senior lien revenue bonds and its 'A+' rating on TBTA's outstanding subordinate lien revenue bonds. The 'A-1+' short-term rating is based on a liquidity facility provided by Dexia Credit Local ('AA/A-1+'). The standby bond purchase agreement is scheduled to expire May 9, 2012, unless earlier extended or terminated according to its terms. The 'AA-' and 'A+' long-term ratings are based on TBTA's consistently strong historical financial performance, service essentiality, and the expectation...
Companies mentioned in this report are:
- Triborough Br & Tunnel Auth
Action: New Rating
Action: Outlook: Stable
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Research type: News
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