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KBRA Assigns Long-Term Rating of AA With Stable Outlook to the TBTA General Revenue Bonds, Series 2019C and General Revenue Variable Rate Refunding Bonds, Subseries 2003B-2 (SIFMA Floating Rate Tender Notes)

November 19, 2019 GMT

NEW YORK--(BUSINESS WIRE)--Nov 19, 2019--

Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA with a Stable Outlook to the Triborough Bridge and Tunnel Authority (TBTA) General Revenue Bonds, Series 2019C and General Revenue Variable Rate Refunding Bonds, Subseries 2003B-2 (SIFMA Floating Rate Tender Notes).

Concurrently, KBRA affirms the long-term rating of AA with a Stable Outlook on the TBTA’s outstanding general obligation bonds. KBRA also affirms the long-term rating of AA- with a Stable Outlook on the TBTA’s outstanding subordinate revenue bonds.

Issuer: Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels or "TBTA")

Assigned

Rating(s)

Outlook

General Revenue Bonds, Series 2019C

AA

Stable

General Revenue Variable Rate Refunding Bonds, Subseries 2003B-2 (SIFMA Floating Rate Tender Notes)

AA

Stable

Affirmed

Rating(s)

Outlook

General Revenue Bonds

AA

Stable

Subordinate Revenue Bonds

AA-

Stable

A rating report will be forthcoming.

Methodology Used:

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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 designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191119006098/en/

CONTACT: Analytical Contacts:Alice Cheng, Director

(646) 731-2403

acheng@kbra.comCindy Wu, Senior Director

(646) 731-2304

cwu@kbra.comWilliam Cox, Senior Managing Director

(646) 731-2472

wcox@kbra.comBusiness Development Contacts:Bill Baneky, Managing Director

(646) 731-2409

bbaneky@kbra.comJames Kissane, Senior Director

(213) 806-0026

jkissane@kbra.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 11/19/2019 05:54 PM/DISC: 11/19/2019 05:54 PM

http://www.businesswire.com/news/home/20191119006098/en