KBRA Releases Rating Report for the MTA Transportation Authority Transportation Revenue Bond Anticipation Notes Series 2018B

NEW YORK–(BUSINESS WIRE)–On June 13, 2018, Kroll Bond Rating Agency (KBRA) assigned a short-term
rating of K1+ to the Metropolitan Transportation Authority (MTA)
Transportation Revenue Bond Anticipation Notes (BANs) Series 2018B
consisting of Subseries 2018B-1 and 2018B-2. The two Subseries are
scheduled to mature on May 15, 2020 and May 15, 2021, respectively.

Concurrently, KBRA affirmed the long-term rating of AA+ with a Stable
Outlook on the MTA Transportation Revenue Bonds and short-term rating of
K1+ on the MTA’s Transportation Revenue BANs Series 2017C and 2018A.

 
Ratings

Issuer: Metropolitan Transportation Authority (MTA)

Series/Bond       Rating     Outlook     Action
Transportation Revenue BANs, Series 2018B

Subseries 2018B-1 (maturing 5/15/2020)

      K1+         Assigned
Transportation Revenue BANs, Series 2018B

Subseries 2018B-2 (maturing 5/15/2021)

      K1+         Assigned
Transportation Revenue Bonds       AA+     Stable     Affirmed
Transportation Revenue BANs, Series 2017C

(partially maturing 2/15/2019 & 5/15/2019)

      K1+         Affirmed
Transportation Revenue BANs, Series 2018A

(maturing 8/15/2019)

      K1+         Affirmed
KBRA’s long-term ratings do not apply to bonds backed by a letter
of credit or liquidity facility, unless otherwise noted.
 

KBRA’s long-term rating for the MTA is based on the U.S.
Public Toll Roads, Bridges, & Tunnels Rating Methodology
.
KBRA’s Rating Determinant ratings are summarized below:

  • Size and Scope of Operations: AAA
  • Demand Assessment: AA+
  • Regulatory/Management Framework: AA+
  • Financial Profile: AA
  • Security Provisions: AA-

To view the report, click here.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S.
Securities and Exchange Commission as an NRSRO. In addition, KBRA is
recognized by the National Association of Insurance Commissioners as a
Credit Rating Provider and a certified Credit Rating Agency (CRA) by the
European Securities and Markets Authority (ESMA). Kroll Bond Rating
Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Kroll Bond Rating Agency
Analytical:
Andrew
Clarke, 646-731-2380
Managing Director
aclarke@kbra.com
or
Alice
Cheng, 646-731-2403
Associate Director
acheng@kbra.com