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Triborough Bridge and Tunnel Authority, NY's General Rev Variable-Rate Bonds Rated 'AA-/A-1+' May 05 Product Image

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

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

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.

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