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Triborough Bridge & Tunnel Authority, NY 2012A Bonds Assigned 'AA-' Rating; Other Ratings Affirmed May 12 Product Image

Triborough Bridge & Tunnel Authority, NY 2012A Bonds Assigned 'AA-' Rating; Other Ratings Affirmed May 12

  • ID: 2201724
  • May 2012
  • Region: New York
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) May 23, 2012--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to the Triborough Bridge & Tunnel Authority (TBTA), N.Y.'s pro forma $250 million series 2012A general revenue bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on TBTA's general revenue bonds, and its 'A+' long-term rating on the authority's subordinate revenue bonds outstanding. The outlook on all long-term ratings is stable. Standard & Poor's also affirmed its 'AAA/A-1+' long-term and 'AA-' underlying (SPUR) ratings on TBTA's general revenue variable-rate bonds, series 2001B. The ratings reflect our application of the low correlation joint criteria based on the 'AA-' SPUR on the authority and the ratings on the 2001B letter of credit...

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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- Triborough Br & Tunnel Auth

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