Standard & Poor's Ratings Services has assigned its 'A' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s $400 million series 2012A (subseries A-1, A-2, and A-3) and 2012B transportation revenue bonds. Bond proceeds will finance transit and commuter projects. At the same time, Standard & Poor's affirmed its 'A' rating on the authority's approximately $15.2 billion of existing transportation revenue bonds. The outlook is stable. Standard & Poor's also affirmed its 'AAA' long-term rating on MTA's series 2002G-1 and 2005D transportation revenue bonds, reflecting the application of its joint criteria with low correlation. We base these ratings on the 'A' underlying rating on the bonds and the long-term and short-term ratings on the banks providing the letters of credit that...
Companies mentioned in this report are:
- Metropolitan Transp Auth
Action: New Rating
Action: Outlook: Stable
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