News

KBRA Assigns Short-Term Rating of K1+ to the MTA Transportation Revenue Bond Anticipation Notes, Series 2019C

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a Short-Term rating of K1+ to the Metropolitan Transportation Authority (MTA) Transportation Revenue Bond Anticipation Notes, Series 2019C.

Concurrently, KBRA affirms the long-term rating of AA+ with a Negative Outlook on the MTA’s outstanding transportation revenue bonds. KBRA also affirms the short-term rating of K1+ on the MTA’s outstanding transportation revenue bond anticipation notes.

Issuer: Metropolitan Transportation Authority (MTA)

Assigned

Rating(s)

Outlook

Transportation Revenue Bond Anticipation Notes, Series 2019C

K1+

n/a

Affirmed

Rating(s)

Outlook

Transportation Revenue Bonds

AA+

Negative

Transportation Revenue Bond Anticipation Notes, Series 2018A

(maturing 8/15/2019)

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2018B

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

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2018B

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

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2018C-1

(maturing 9/1/2020)

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2018C-2

(maturing 9/1/2021)

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2019A

(maturing 2/3/2020)

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2019B

Subseries 2019B-1 (maturing 5/15/2022)

K1+

n/a

Transportation Revenue Bond Anticipation Notes, Series 2019B

Subseries 2019B-2 (maturing 5/15/2020)

K1+

n/a

A full report will be forthcoming.

Methodology Used:

For mapping of the long-term rating to the short-term rating, please refer to the Short-Term KBRA Rating Scale.

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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.

Contacts

Analytical:

William Cox, Senior Managing Director

(646) 731-2472

wcox@kbra.com

Alice Cheng, Director

(646) 731-2403

acheng@kbra.com

Cindy Wu, Senior Director

(646) 731-2304

cwu@kbra.com

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