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Summary: Metropolitan Transportation Authority, New York; Joint Criteria; Transit Mar 12

  • ID: 2083530
  • March 2012
  • Region: New York
  • Standard & Poors
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  • Metropolitan Transp Auth
  • MORE

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: 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 READ MORE >

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- Metropolitan Transp Auth

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