Metropolitan Transportation Authority, NY's 2011C Revenue Refunding Bonds Rated 'A'; Parity Debt Ratings Affirmed Oct 11
- ID: 2086152
- October 2011
- Region: New York
- Standard & Poors
NEW YORK (Standard & Poor's) Oct. 28, 2011--Standard & Poor's Ratings Services has assigned its 'A' rating to the Metropolitan Transportation Authority (MTA), N.Y.'s series 2011C transportation revenue refunding bonds. Depending on market conditions, the par amount could be as high as $350 million for these bonds. The outlook is stable. At the same time, Standard & Poor's affirmed its 'A' rating on the MTA's approximately $15.5 billion of existing transportation revenue bonds. This includes the MTA's transportation revenue bonds, subseries 2008B-1, which on Nov. 15, 2011, the MTA is planning to remarket. On that date it will convert the subseries 2008B-1 bonds from a term rate mode into a fixed rate mode. Standard & Poor's also affirmed its 'AAA'...
Companies mentioned in this report are:
- Metropolitan Transp Auth
Action: New Rating
Action: Outlook: Stable
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